A Corporation Has Which of the Following Sets of Characteristics

question 97

Multiple Choice

A corporation has which of the following sets of characteristics?

• A)subject to personal liability,not a separate taxable entity,terminates at the stockholder's death
• B)not taxed,two or more owners,an alternative organizational form to partnerships
• C)taxed on earnings,subject to personal liability,used primarily by professional organizations
• D)one or more stockholders,indefinite life,no personal liability

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Definitions:

Markup

A term used in accounting and finance to describe the difference between the cost of a good or service and its selling price.

Activity At Capacity

The level of operations where a company or a production process is utilizing all available resources without any waste.

Fixed Manufacturing Overhead

Indirect manufacturing costs that do not change with the level of production, such as salaries of managers and depreciation of factory equipment.

Estimated Labor-Hours

A projection of the total hours of work required to complete a task or project.