Podcast
Questions and Answers
Which business organization has a single owner who is generally also the manager?
Which business organization has a single owner who is generally also the manager?
- Corporation
- Limited Liability Company
- Partnership
- Sole Proprietorship (correct)
What is the definition of a partnership?
What is the definition of a partnership?
- A business owned and operated by two or more persons (correct)
- A business owned by a limited number of shareholders
- A business owned by a single proprietor
- A business owned by its stockholders
What is a corporation?
What is a corporation?
- A business owned by a single proprietor
- A business owned by a limited number of shareholders
- A business owned and operated by two or more persons
- A business owned by its stockholders (correct)
Which type of business organization has the rights of succession and powers authorized by law?
Which type of business organization has the rights of succession and powers authorized by law?
Who can be classified as a compensation, business, or mixed income earner?
Who can be classified as a compensation, business, or mixed income earner?
Which type of business organization is owned and operated by two or more persons who contribute money, property, or industry to a common fund?
Which type of business organization is owned and operated by two or more persons who contribute money, property, or industry to a common fund?
Which business organization is an artificial being created by operation of law and owned by its stockholders?
Which business organization is an artificial being created by operation of law and owned by its stockholders?
What is the tax rate for individuals earning purely compensation income effective Jan. 1, 2023, onwards?
What is the tax rate for individuals earning purely compensation income effective Jan. 1, 2023, onwards?
What is the taxable income for compensation earners?
What is the taxable income for compensation earners?
What are the possible classifications of an individual taxpayer in terms of income?
What are the possible classifications of an individual taxpayer in terms of income?
