Cassandra Is the Sole Shareholder of a Corporation, Incorporated Under

question 33

Multiple Choice

Cassandra is the sole shareholder of a corporation, incorporated under the Canada Business Corporations Act, which carries on a grocery store business.Which of the following statements is FALSE?

• A)Cassandra could work as a cashier employed by the corporation.
• B)If Cassandra was killed in an automobile accident, the corporation would continue to exist.
• C)Cassandra will pay no tax no matter what the corporation's profits are until some amount is paid to her personally.
• D)Cassandra does not own any of the specific assets of the corporation.
• E)Cassandra is personally liable for the debts of the corporation, in all circumstances