INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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All of the following are characteristics of corporations, EXCEPT that ____
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liability is limited
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the corporation is a separate legal entity
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the corporation may gain access to funds by issuing more stock
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the power of corporate managers is complete and cannot be challenged by stockholders
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Explanation:
Detailed explanation-1: -Hence, limited period of existence and centralized management are not typical characteristics of a corporation.
Detailed explanation-2: -Answer and Explanation: The statement that best describes a corporation is B. Stockholders not personally liable for entity’s debts. A corporation is a separate legal entity that is taxed.
Detailed explanation-3: -A corporation is a legal entity, meaning it is a separate entity from its owners who are called stockholders. Ownership in a corporation is represented by stock certificates, which is why the owners are called stockholders. Unlimited life. Limited liability. Separate legal entity. More items
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