Which of the Following Is the Most Important Feature of a Corporation

question 38

Multiple Choice

Which of the following is the most important feature of a corporation?

• A)It is taxable.
• B)It provides limited liability to its shareholders.
• C)It can have more than one owner.
• D)It has a limited life span.

---

Definitions:

Malpractice Lawsuits

Legal claims made against professionals who fail to perform their duties with the competence expected, leading to harm.

Missed Deadlines

Failure to complete or submit work, documents, or applications within the specified timeframe, which can have legal or procedural implications.

Breach

To violate a legal duty by an act or a failure to act.

Client Confidentiality

The ethical obligation of professionals, especially in legal and medical fields, to keep information given by or about their clients secret from others.