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IRS Enrolled Agent Exam Prep - Part 2 | 55 Questions with 100% Correct Answers | Updated & Verified
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Which form of business entity is not a legal entity separate and apart from its owner? A. Corporation B. Partnership C. Sole proprietorship D. S corporation - C Under which circumstance is an entity required to apply for a new employer identification number? A. Proprietorship that incorporates B. Business name change C. Electing or revoking S corp status D. 50% change of interest in partnership within 12 months. - A LLC's may be an attractive small business alternative as opposed to an S corp because LLC's offer the following advantage(s) not available in S corps:
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