Which of the Following Features of a Corporation Is LEAST

question 22

Multiple Choice

Which of the following features of a corporation is LEAST accurate?

• A)The owners' identity is separate from the corporation.
• B)The owners of the corporation have unlimited liability for the corporations debts.
• C)Changes in ownership do not result in the dissolution of the corporation.
• D)Earnings from the corporation are taxed only once.

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Definitions:

Commercial Airline Seats

The seats available for purchase on a commercial aircraft, categorized into various classes like economy, business, and first class.

Standard Labor-Hours

The expected amount of time that it should take to produce one unit of a product or complete a process.

Fixed Overhead

Indirect costs that do not vary with the level of production or sales, such as rent, salaries, and insurance.

Budget Variance

The difference between budgeted or planned financial activity and the actual financial performance.