Which of the Following Corporate Characteristics Is a Disadvantage of the Corporate

question 98

Multiple Choice

Which of the following corporate characteristics is a disadvantage of the corporate form of business?

• A) Limited liability
• B) Double taxation
• C) No mutual agency
• D) Transferability of ownership

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Definitions:

Building Consultant

A professional who advises on the construction, modification, or repair of buildings, ensuring compliance with legal and regulatory requirements and achieving desired functionality and aesthetics.

Ledger

A book or collection of financial accounts where transactions are summarized and classified.

Transactions

Actions or activities conducted by a company or between parties that affect the financial position, such as sales, purchases, and payments.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenue, expenses, and net profit.