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True or false questions 4.11% C Corporation is an independent legal entity. 5.) The responsibility of corporate debts belongs to the shareholders. 6.) C Corporations

True or false questions

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4.11% \"C\" Corporation is an independent legal entity. 5.) The responsibility of corporate debts belongs to the shareholders. 6.) \"C\" Corporations are \"doubled taxed". 7'.) Shareholders who are also employees pay income tax on their wages. E.) The main advantage of a \"S\" Corporation is that only one tax is paid. 9.) The legal structure of a Limited Liability Company is a hybrid. In.) Cooperatives are connnon in agriculture. 11.} A corporation is not a legal entity. 12.) \"C\" Corporations are costly and time~consuming to start and operate. 13.) A Sole Proprietorship business is not taxed separately from the owner. 14.) A Partnership must have two or more people. 15-) Most businesses need to register with the IRS and obtain a tax ID number. 16.) Once a business is registered, it is not necessary to obtain licenses or permits

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