Identify (By Letter) Each of the Following Characteristics as Being

question 146

Essay

Identify (by letter) each of the following characteristics as being an advantage, a disadvantage, or not applicable to the corporate form of business organization.
A = Advantage
D = Disadvantage
N = Not Applicable
Characteristics
1. Separate legal entity
2. Taxable entity resulting in additional taxes
3. Continuous life
4. Unlimited liability of owners
5. Government regulations
6. Separation of ownership and management
7. Ability to acquire capital
8. Ease of transfer of ownership

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Definitions:

Immoral Activities

Actions considered to be against societal norms or ethical principles, often leading to legal consequences.

Dangerous Orders

Instructions, usually from a higher authority, that could potentially lead to harm or pose a significant risk if followed.

Compensation Insurance Scheme

An insurance plan designed to provide compensation to employees for injuries or disabilities sustained as a result of their employment.

Workers' Compensation Act

Legislation providing financial compensation and medical care for workers who are injured on the job or contract work-related illnesses.