Which of the Following Statements Best Describes a Corporation

question 16

Multiple Choice

Which of the following statements best describes a corporation?

• A)can be single or multiple owners
• B)taxed separately
• C)most expensive to establish
• D)all of the above

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Definitions:

Capital Contributed

The total amount of money and other valuables that shareholders or owners have invested in a company or partnership.

Full Responsibility

Full Responsibility implies taking complete accountability for one's actions or the outcomes of those actions, without excuses or shifting blame.

Limited Partnership

A business structure where some owners are general partners responsible for the day-to-day operations, while others are limited partners investing but not involved in management.

Management of Partnership

Overseeing the operation and administration of a business partnership, including decision-making and financial management.