Which of the Following Features of a Corporation Is LEAST

question 1

Multiple Choice

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

• A) The owners' identities are separate from a corporation.
• B) The owners of a corporation are not liable for any obligations the corporation enters into.
• C) Changes in ownership do not result in the dissolution of the corporation.
• D) Earnings from a corporation are taxed only once.

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Definitions:

Assets

Resources with economic value owned by an individual, corporation, or country, expected to provide future benefits.

Liabilities

Monetary liabilities or dues that an individual or business is responsible for paying to other entities.

Bar Graph

A type of graph or data display that uses rectangular bars to compare categories of data.

Transportation-Related Costs

Expenses incurred during the process of moving goods or individuals from one location to another, including costs such as fuel, tolls, and maintenance.