In the blank next to each corporate characteristic 1 through 8, enter the letter of the description
Question:
____________ 1. Owner authority and control
____________ 2. Ease of formation
____________ 3. Transferability of ownership
____________ 4. Ability to raise large capital amounts
____________ 5. Duration of life
____________ 6. Owner liability
____________ 7. Legal status
____________ 8. Tax status of income
a. Requires government approval
b. Corporate income is taxed
c. Separate legal entity
d. Readily transferred
e. One vote per share
f. High ability
g. Unlimited
h. Limited
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Characteristic Corporations 1 Owner authority and control e One vote per share ...View the full answer
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Related Book For 
Fundamental Accounting Principles
ISBN: 978-1259536359
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappett
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