A corporation:Question 21Answera.ends when the owner of the corporation charter diesb.is one of the easy types of businesses to formc.cannot sue or be suedd.does not have a size limitatione.does not have a life separate from its owners
Question
A corporation:Question 21Answera.ends when the owner of the corporation charter diesb.is one of the easy types of businesses to formc.cannot sue or be suedd.does not have a size limitatione.does not have a life separate from its owners
Solution
The correct answer is:
d. does not have a size limitation
Explanation:
a. A corporation does not end when the owner of the corporation charter dies. This is because a corporation has a separate legal entity from its owners.
b. A corporation is not one of the easy types of businesses to form. It requires more time, effort, and money to form a corporation compared to other types of businesses like sole proprietorships and partnerships.
c. A corporation can sue and be sued. As a separate legal entity, a corporation has the same rights as a natural person under the law, which includes the right to sue and be sued.
d. A corporation does not have a size limitation. It can be as small as one person or as large as thousands of employees.
e. A corporation does have a life separate from its owners. This is known as 'perpetual succession', meaning the corporation continues to exist even if the owners change.
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