Question 31 of 35. A C corporation can be described as: A business that is separate and distinct from its owners, allowing the owners to conduc A business association defined by federal statute. A legal entity that has more than one shareholder. A type of corporation where owners have limited liability, and income, expenses, and de Mark for follow up Question 32 of 35. A partnership must have: At least one individual person as a partner. At least two partners. Only individuals as partners. A written agreement. Mark for follow up Question 33 of 35 . During the year, CDE Corporation earned enough profits to pay dividends to its shareho The corporation will increase their earnings and proits by the amount distributed. The corporation will reduce its taxable income by the amount cistributed to the shareholce The corporation will pay a fat tax of 219% on the anount cistributed. The shareholders also There are no direct tax consecuences for either the corporation or the shareholders Mark for follow up