Which of the Following Statements Below Is Correct About a Corporation

question 8

Multiple Choice

Which of the following statements below is correct about a corporation and a partnership?

• A)A partnership is comprised of two or more owners,whereas a corporation must have only one owner.
• B)A corporation is legally responsible for its own taxes and debts.
• C)Owners of both entities are legally responsible for the taxes and debts of the business.
• D)Both entities issue shares of stock to owners.

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Definitions:

Physical

Pertaining to the corporeal or material world, as opposed to digital, virtual, or mental aspects.

Visual

Refers to elements that can be seen, often pertinent in computing to graphical interfaces or imagery.

Electronic Charge

A fundamental property of matter carried by some subatomic particles, which causes them to experience a force within an electromagnetic field.

Stored Data

Information or data that is saved or archived in a digital form for future use or retrieval.