Tee Time Golf Resort has the opportunity to buy 1,000 acres of property adjacent to its award-winning 18-hole golf course. After talking with her banker and her lawyer, the owner is encouraged to begin the paperwork to change from a limited liability company form of business ownership to a corporation. You applaud this strategy because she will eliminate the problem of double taxation.

Answer the following statement with true or false

False

Explanation:

In contrast to a S Corporation or a LLC, a C corporations pays taxes at the corporate level. This means that they face the disadvantage of double taxation. Which means that a corporation pays its shareholders dividends from its after-tax income, the shareholders then pay personal income taxes on the dividends they recieve. Hence, the statement is false

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.