QUESTION 19 Which of the following statements is corred? "Due to limited liability, unlimited lives, ease of ownership transfer, and tax advantages, almost O every U.S. business (in terms of number of businesses) are organized as corporations." "Most businesses (by number and total dollar sales) are organized as proprietorships or partnerships because it is easier to set up and has no liability for the partners rather than as a O corporation. However, if the business gets very large, it becomes advantageous to convert to a corporation, primarily because corporations have important tax advantages over proprietorships and partnerships." "For a large company (taxable income over $1 million), the tax situation would, generally, favor organization as a partnership or proprietorship, or possibly as an S corporation, rather than as a regular corporation. However, there are advantages such as legal considerations related to ownership transfers and liability, hence many decide to be organized as a corporation." O "In the typical situation, a taxpayer's average tax rate is below his or her marginal rate. However, there is an income range within which the average rate exceeds the marginal rate." UESTION 20 4 points Eck Save and Submit to save and submit. Click Save All Answers to save all answers. Save Al Answers Save a E