Cheers Inc. operates as a partnership
Question 10.10. Cheers Inc. operates as a partnership. Now the partners have decided to convert the business into a regular corporation. Which of the following statements is CORRECT? (Points : 2)
Assuming Cheers is profitable; less of its income will be subject to federal income taxes.
Cheers will be subject to fewer regulations.
Cheers’ shareholders (the ex-partners) will now be exposed to less liability.
Cheers’ investors will be exposed to less liability, but they will find it more difficult to transfer their ownership.
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