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Foundations of Business Organizations for Paralegals - Final Exam Prep Question and answers correctly solved 2023/2024

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Foundations of Business Organizations for Paralegals - Final Exam Prep Question and answers correctly solved 2023/2024Double Taxation - correct answer Taxation of corporate income at two levels; - The corporate level: the corporation itself pays taxes on its profits - The shareholder level: shareholders pay personal taxes due on distributions of corporate income [dividends] Pass-through Taxation - correct answer Taxation of business profits and losses as the personal income of business owners. Corporation - correct answer A legal business entity owned by shareholders and managed by en elected board of directors and appointed officers. 5 Corporate Characteristics

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