A Business Organized as a Corporation

question 15

Multiple Choice

A business organized as a corporation

• A)is not a separate legal entity in most provinces.
• B)requires that shareholders be personally liable for the debts of the business.
• C)is owned by its shareholders.
• D)has income tax disadvantages over a proprietorship or partnership.

---

Definitions:

Percent

A fraction or ratio expressed as a part of 100.

Increased By

A term indicating that a specific value has been added to an original amount, resulting in a larger sum.

Amount

The total sum of money, quantities, or values in question.

Evaluate

To calculate or determine the numerical value of an expression or equation.