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Which of the following statements is true regarding a C corporation? A C corporation is NOT a separate entity from its shareholders for tax purposes.

Which of the following statements is true regarding a C corporation?

A C corporation is NOT a separate entity from its shareholders for tax purposes.

Shareholders are liable for the debts of the corporation.

Shareholders are taxed on the net profits of the corporation.

The net profit of a corporation is taxed to the corporation when earned.

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