Which of the Following Set of Characteristics Describes a Corporation

question 92

Multiple Choice

Which of the following set of characteristics describes a corporation?

• A)Shared control, tax advantages, increased skills and resources
• B)Simple to set up and maintains control with founder
• C)Easier to transfer ownership and raise funds, no personal liability
• D)Harder to raise funds and gives owner control

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Definitions:

Express Trust

A trust created either while the settlor is alive or by will.

Created

Brought into existence; originated or produced something new.

Family Waqf

An endowment made by a Muslim for religious, educational, or charitable purposes, typically for the benefit of family members.

Trust System

A legal arrangement in which trustors entrust their assets to trustees for the benefit of beneficiaries according to the terms specified in the trust agreement.