Match each corporate characteristic 1 through 8 with the description that best relates to it.CharacteristicDescriptions1. Transferability of ownership2. Ability to raise large capital amounts3. Duration of lifeMore severe than partnerships and proprietorships4. Legal statusReadily transferred5. Ease of formationRequires government approval6. Government regulationShareholders elect board of directors7. Mutual agencyStockholders cannot bind corporation to contracts8. Owner authority and control Match each corporate characteristic 1 through 8 with the description that best relates to it.CharacteristicDescriptions1. Transferability of ownership2. Ability to raise large capital amounts3. Duration of life4. Legal statusEntity with similar rights as individual5. Ease of formationHigh because buying stock is attractive6. Government regulationIndefinite7. Mutual agencyMore severe than partnerships and proprietorships8. Owner authority and controlTT TT O

Match each corporate characteristic 1 through 8 with the description that best relates to it. Characteristic Descriptions 1. Transferability of ownership 2. Ability to raise large capital amounts 3. Duration of life More severe than partnerships and proprietorships 4. Legal status Readily transferred 5. Ease of formation Requires government approval 6. Government regulation Shareholders elect board of directors 7. Mutual agency Stockholders cannot bind corporation to contracts 8. Owner authority and control T T TTI

Match each corporate characteristic 1 through 8 with the description that best relates to it. Characteristic Descriptions 1. Transferability of ownership 2. Ability to raise large capital amounts 3. Duration of life More severe than partnerships and proprietorships 4. Legal status Readily transferred 5. Ease of formation Requires government approval 6. Government regulation Shareholders elect board of directors 7. Mutual agency Stockholders cannot bind corporation to contracts 8. Owner authority and control T T TTI

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Match each corporate characteristic 1 through 8 with the description that best relates to it.
Characteristic
Descriptions
1. Transferability of ownership
2. Ability to raise large capital amounts
3. Duration of life
More severe than partnerships and proprietorships
4. Legal status
Readily transferred
5. Ease of formation
Requires government approval
6. Government regulation
Shareholders elect board of directors
7. Mutual agency
Stockholders cannot bind corporation to contracts
8. Owner authority and control

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