Which of the following entity characteristics are generally key factors for small business owners in deciding which entity to choose?
A)Rate at which income from entity will be taxed.
B)Required accounting period.
C)Liability protection.
D)Both the rate at which income from entity will be taxed and the required accounting period.
E)Both the rate at which income from entity will be taxed and liability protection.

Question

Quizplus · Accepted Answer

The rate at which income from the entity will be taxed and liability protection are key factors for small business owners when deciding which entity to choose. Taxation affects the business's net income, and liability protection is crucial for safeguarding the owner's personal assets.

Which of the Following Entity Characteristics Are Generally Key Factors