Correct answer is D.
Stateement 1 (Correct) : The stockholders equity section in financial statements of limited liability companies is more complex than in other business forms.
Statement 2 (Incorrect) : One advantage of corporations is their double-taxation system
What is in a financial statement?
Financial statements are a collection of records that demonstrate the financial standing of your business at a given period. They provide important information regarding the assets and debts of your business as well as its earnings and expenses.
What is the purpose of financial statements?
A company’s financial health may be seen at a single glance thanks to the financial statements that reveal information about its operations, performance, and cash flow. Since they reveal details about a company’s earnings, costs, profitability, and debt, financial statements are crucial.
What are the benefits of double taxation?
A double taxation treaty lets foreign enterprises avoid paying additional taxes. Without such a convention, income may be taxed both in the country where it is earned and in the home country after it has been repatriated.
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