Which type of corporation is favored by big business, is apt to have a

QUESTION

Which type of corporation is favored by big business, is apt to have a great many shareholders, and has its profits taxed twice?

A) a general partnership
B) a C corporation
C) an S corporation
D) an LLC
E) a B corporation

ANSWER

Answer: B
Explanation: B) A C corporation can have any number of owners (shareholders) and faces two levels of taxation. It is a state-chartered entity that pays taxes and is legally distinct from its owners.