Select the INCORRECT statement.

The purpose of legally allowing LLC, LLPS, and S Corps is to promote economic development.
The financial objective of the firm is to maximize revenues.
S corporations are not double-taxed like regular "C" corporations.
The Board of Directors determines management compensation.

Expert Solution

Answer : the incorrect statment are :

The Financial objective of the firm is to maximize revenue is incorrect.

the fiancial objective of the firm is the profitablity, liquidity , efficiency and stablity.

all other statement are correct:

the purpose of legally allowing LLCs,LLPs, and S corp is to promote economic development.

S coproration are not double taxed like regular "c" corporations.,

the board of directors detemines managment compensation.

ekkarill92 answered 2 years ago

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