Advantages-large in size/operation, most effective, stocks & bonds, easier to access bank credit, limited liability-disadvantages-legal expenses rise, double taxation (dividends), owners can avoid responsibility for activities (monetary)-unemployment-rise gov't spending, lower taxes, lower interest rates-inflation-higher taxes, higher int. rates, lower gov't spending-federal-most imp source of revenue=personal income tax(48%), most imp. ... =pension & income security(39%)-State-sales & excise tax (48%),education(36%),Local-education(43%),property tax(74%)-National income statistics u...

• Word Count: 793
• Approx Pages: 3
• Grade Level: High School