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Which of the following statements regarding a C corporation is TRUE? a)A C corporation is a separate entity for tax purposes. b)A C corporation passes
Which of the following statements regarding a C corporation is TRUE?
a)A C corporation is a separate entity for tax purposes.
b)A C corporation passes through business income, losses, deductions, and credits directly to shareholders.
c)Shareholders are generally held personally liable for the company's debts.
d)Shareholders may be subject to self-employment tax on their share of a corporation's profits.
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