One benefit of the Subchapter S corporation is that there is no double taxation

One benefit of the subchapter s corporation is that

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16. One benefit of the Subchapter S corporation is that there is no double taxation. AACSB: AnalyticAccessibility: Keyboard NavigationBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 16-04 Categorize corporate entities on the basis of how their income is taxed and understand the concept of flow-through taxation.Melvin - Chapter 16 #16Topic: Taxation 17. Corporations may be created by written agreement between the principals, and no strict or formal filing is required as long as the agreement is written. AACSB: AnalyticAccessibility: Keyboard NavigationBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 16-01 Identify the sources and level of law governing the formation and internal matters of corporations.Melvin - Chapter 16 #17 Topic: Formation
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18. Officers and directors owe fiduciary duties to the corporation and its shareholders; however, none of the shareholders owe such duties because they cannot bind the company. AACSB: Reflective ThinkingAccessibility: Keyboard NavigationBlooms: EvaluateDifficulty: 3 HardLearning Objective: 16-06 Identify the major fiduciary duties owed by insiders of a corporation to its shareholders and give examples of each duty.Melvin - Chapter 16 #18Topic: Fiduciary Duties of Officers and Directors 19. Any corporation that does not make money is classified as a nonprofit corporation. AACSB: AnalyticAccessibility: Keyboard NavigationBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 16-01 Identify the sources and level of law governing the formation and internal matters of corporations.Melvin - Chapter 16 #19Topic: Categories of Corporations 20. The authority of an officer to bind the corporation must expressly flow from the bylaws or through board of director mandates. AACSB: Reflective ThinkingAccessibility: Keyboard NavigationBlooms: EvaluateDifficulty: 3 HardLearning Objective: 16-05 Describe the fundamental structure and roles of officers; directors; and shareholders in the corporate form of entity and understand the functions of each role and how the structure is governed. Melvin - Chapter 16 #20 Topic: Officers
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  • Fall '18
  • JERRY CHI
  • Corporation, AACSB

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