Of the following statements, which are true for the corporate form of organization? 1. Owners are not
Question:
1. Owners are not agents of the corporation.
2. It is a separate legal entity.
3. It has a limited life.
4. Capital is more easily accumulated than with most other forms of organization.
5. Corporate income that is distributed to shareholders is usually taxed twice.
6. Owners have unlimited liability for corporate debts.
7. Ownership rights cannot be easily transferred.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
Question Posted: