A Corporation Has Which of the Following Sets of Characteristics

question 97

Multiple Choice

A corporation has which of the following sets of characteristics?

• A)subject to personal liability,not a separate taxable entity,terminates at the stockholder's death
• B)not taxed,two or more owners,an alternative organizational form to partnerships
• C)taxed on earnings,subject to personal liability,used primarily by professional organizations
• D)one or more stockholders,indefinite life,no personal liability

Understand the concept of opportunity cost in decision-making under scarcity.

Comprehend the impact of income and price changes on consumer choices and budget constraints.

Realize the purpose and nature of economic models and statements.

Apply the concept of opportunity cost in the context of consumer choice between different goods.

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Definitions:

Management Rights

The rights retained by employers, allowing them to operate and manage their business without interference from the workforce.

Co-ownership

The state or condition where two or more parties hold property jointly, sharing rights and responsibilities.

Instrumentality

A term referring to a means or agency through which a function of another entity is accomplished.

Business Transaction

An interaction between two or more parties that involves the exchange of goods, services, or information for the purpose of conducting business.