A Corporation Is

question 25

Multiple Choice

A corporation is:

• A) A business legally separate from its owners.
• B) The same as a limited liability partnership.
• C) Controlled by the FASB.
• D) Not subject to double taxation.
• E) Not responsible for its own acts and own debts.

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Definitions:

Social Entrepreneur

An individual who pursues innovative solutions to social problems, combining business principles and strategies with a mission to improve society.

Societal Capitalism

A form of capitalism that emphasizes the importance of societal needs and considerations alongside profit and economic growth.

Sustainable Development

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs, often focusing on environmental, economic, and social sustainability.

Revocation

The act of officially withdrawing, cancelling, or annulling something, such as a legal document, license, or agreement.