INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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limited liability
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external funding sources
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transfer of ownership
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Too many legal formalities
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Detailed explanation-1: -Advantages of a corporation include personal liability protection, business security and continuity, and easier access to capital. Disadvantages of a corporation include it being time-consuming and subject to double taxation, as well as having rigid formalities and protocols to follow.
Detailed explanation-2: -Answer and Explanation: The main disadvantage of the corporate form of organization is the double taxation of shareholders.
Detailed explanation-3: -Distinct Legal Entity. Double Taxation. Expensive to Form. Complicated to Form. Extensive Rules to Follow. Frequently Asked Questions (FAQs) 13-Sept-2022
Detailed explanation-4: -Double taxation of corporation profits. The corporation pays federal and state taxes on its profits. Forming a corporation costs more. Attorneys charge more to form a corporation. States have higher fees. More state and federal regulations and oversight.