A Business Organized as a Corporation

question 20

Multiple Choice

A business organized as a corporation

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

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Definitions:

Storage

The action or method of retaining or containing something for future use, typically referring to data, energy, or physical goods.

Branches

Extensions or subdivisions that emerge from a main body or system, often used in reference to trees, mathematics, or organizational structures.

Structure Labeled

An identified and named part of a physical, anatomical, or molecular entity that serves a specific function.

Accompanying Figure

A visual illustration or diagram provided alongside a text or explanation to aid understanding.