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goji.go goji.go
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11 years ago
Which of the following statements about the operation of a corporation is correct?
A) A corporation is a separate entity and is legally formed under state laws.
B) A corporation automatically expires in 99 years and must be renewed if a corporation wants to remain in business.
C) Owners of a corporation have unlimited liability for any claims against their company.
D) A corporation tends to be much easier to set up than a sole proprietorship or partnership.
E) All profits and losses flow through the corporation owners' personal tax returns.
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Diesel
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bbb
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#1
11 years ago
A) Shareholders own a corporation, making its existence independent of its founders, easily transferable, and virtually alive forever. Corporations provide owners with no liability to any corporate debt, making their liability limited. Corporations are more difficult to set up than sole proprietorships or partnerships because they require paperwork to be filed with both state and federal agencies. Therefore, the most correct statement is that a corporation is a separate entity and is legally formed under state laws.
Nips96
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goji.go Authorgoji.go
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11 years ago
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