The distinguishing feature of a corporation is that: a. none of them. b. it provides limited liability only to small shareholders. c. there is no legal difference between the corporation and its owners. d. it spreads liability for its corporate obligations to all shareholders. e. it is a legally defined, artificial being, separate from its owners.

Which amongst the following is NOT a feature of a corporation? Select one: a. A company is separate from its owners (shareholders) and its managers (its CEO and directors, etc). b. The property of the company belongs to the owners of the company. c. A company can sue and be sued in its own name. d. A company’s obligations (debts) are its own, and are not debts owed by its agents or its owners (its shareholders).

A corporation is a business that:A.is legally owned by only one person.B.is set up and run by the government.C.is controlled by people who buy stock.D.is run by a group of two or more owners.

A corporation is an artificial being created by operation of law, having the right of succession and the powers, attributes, and properties expressly authorized by law or incidental to its existence.Group of answer choicesTrueFalse

Which of the following is a disadvantage of a corporation?Multiple choice question.Shareholders have unlimited liability for the management of the corporation.It is difficult to raise capital by issuing stock.Formalities are required in establishing and maintaining the corporate form of business.Profits from the business are taxed as income to the partners, not to the shareholders.

The advantages of a corporation compared to a sole proprietorship or partnership include:Multiple ChoiceThe ability of stockholders to make operating decisions for their company.Less paper work.Limited liability.Lower total taxes.