1. A corporation is not an entity which is separate and distinct from its owners. TRUE...

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1. A corporation is not an entity which is separate and distinct from its owners. TRUE FALSE 2. A corporation can be organized for the purpose of making a profit or it may be not-for- profit. TRUE FALSE The two ways that a corporation can be classified by purpose are general and limited. profit and not-for-profit. 3 а. b. с. state and federal. d. publicly held and privately held. 4. The two ways that a corporation can be classified by ownership are publicly held and privately held. stock and non-stock. а. b. c. inside and outside. d. majority and minority. 1. A corporation is not an entity which is separate and distinct from its owners. TRUE FALSE 2. A corporation can be organized for the purpose of making a profit or it may be not-for- profit. TRUE FALSE The two ways that a corporation can be classified by purpose are general and limited. profit and not-for-profit. 3 а. b. с. state and federal. d. publicly held and privately held. 4. The two ways that a corporation can be classified by ownership are publicly held and privately held. stock and non-stock. а. b. c. inside and outside. d. majority and minority.

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1 false The statement is based on business entity concept This states the owners and the business ar... View the full answer