Which of the following statements is TRUE?
A)An advantage of a corporation is that there is less regulation of the business.
B)An advantage of a corporation is that it is subject to double taxation.
C)Unlike a partnership,a disadvantage of a corporation is that it has limited liability.
D)Corporations face more regulations when compared to partnerships.

Question

Quizplus · Accepted Answer

Corporations are subject to more regulations than partnerships, including requirements for reporting, governance, and compliance with both state and federal laws. This is because corporations are considered separate legal entities from their owners, providing limited liability protection, but at the cost of increased oversight.

Which of the Following Statements Is TRUE