According to the information in text on types of business organizations (Window

Question

According to the information in text on types of business organizations (Window 1.1 on page 8), which of the following is NOT true?

Sole proprietorships tend to be small businesses. Compared with sole proprietorships and parterships, corporations require little paperwork and regulations. Corporations account for a minority percentage of total U.S. businesses but account for a majority of total U.S. business receipts and profits. Partnerships are simple to organize. Sole proprietorships must usually rely on bank loans and personal savings for investment funds. Partnerships typically suffer from unlimited liability, limited sources for investment funds, and a lack of continuity. Profits earned through corporations are taxed twice; once at the corporate level, and again at the personal level if and when they are moved down to the personal level. All of the Above

Explanation / Answer

According to the information in text on types of business organizations , the following is NOT true :

- Compared with sole proprietorships and parterships, corporations require little paperwork and regulations.

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