Which of the following is a characteristic of a corporation?A) Unlimited liability for its ownersB) Owners are personally responsible for the corporation's debtsC) Ownership is easily transferable through the sale of stockD) Corporations are taxed at lower rates than partnerships clear soln
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Which of the following is a characteristic of a corporation?
A) Unlimited liability for its owners
B) Owners are personally responsible for the corporation's debts
C) Ownership is easily transferable through the sale of stock
D) Corporations are taxed at lower rates than
clear soln
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- Which of the following is a characteristic of a corporation?A) Unlimited liability for its ownersB) Owners are personally responsible for the corporation's debtsC) Ownership is easily transferable through the sale of stockD) Corporations are taxed at lower rates than partnershipsWhich of the following is a characteristic of a corporation?A) Unlimited liability for its ownersB) Owners are personally responsible for the corporation's debtsC) Ownership is easily transferable through the sale of stockD) Corporations are taxed at lower rates than partnerships Need helpWhich of the following is a characteristic of a corporation?A) Unlimited liability for its ownersB) Owners are personally responsible for the corporation's debtsC) Ownership is easily transferable through the sale of stockD) Corporations are taxed at lower rates than partnershipsexplain.
- Which of the following is not considered to be an advantage of a corporation?a. Limited liability of stockholders for the corporation’s debtsb. Continuous lifec. Double taxationd. Ability to raise more capital than a partnership or proprietorshipWhich of the following is not true of a corporation? A corporation has easy transferability of ownership. A corporation has the ability to raise large amounts of capital. A corporation is taxed separately from its owners. The owners of a corporation have unlimited liabilityWhich of the following is a characteristic of a corporation?a. No income taxb. Limited liability of stockholdersc. Mutual agencyd. Both b and c
- Which of the following is not an advantage of a corporation? O Double taxation Continuous life Transferable ownership rights Limited liabilitySelect the best term for each definition below. Definitions Terms a. Shareholders can lose no more than the amount they invest in the company. b. Corporate earnings are taxed twice—at the corporate level and individual shareholder level. c. Like an S corporation, but there are no limitations on the number of owners as in an S corporation. d. Traces the line of authority within the corporation. e. Allows for legal treatment as a corporation, but tax treatment as a partnership. f. Has stock traded on a stock exchange such as the New York Stock Exchange (NYSE). g. The first time a corporation issues stock to the public. h. Describes (a) the nature of the firm’s business activities, (b) the shares to be issued, and (c) the composition of the initial board of directors.Which of the following is not a characteristic of a corporation? a.Corporations experience an ease in obtaining large amounts of resources by issuing stock. b.A corporation's resources are limited to its individual owners' resources. c.Ownership is divided into shares of stock. d.Corporations are organized as a separate legal taxable entity.
- Which of the following describes when a corporation pays income tax on its profits, and when the corporation distributes the after-tax profits as dividends, the shareholders may tax on the dividends? Multiple Choice Shareholder taxation International double taxation Federal income taxation Double taxationWhich of the following is not a characteristic of a corporation? a.Corporations experience an ease in obtaining large amounts of resources by issuing stock. b.Corporations are organized as a separate legal taxable entity. c.Ownership is divided into shares of stock. d.A corporation's resources are limited to its individual owners' resources.1. List and describe the four corporate characteristics. 2. Give an example of pass-through taxation and double taxation. Which characteristics does a sole proprietorship or partnership have and how are they taxed? 3. 4. Which of the corporate characteristics does an S-corporation have and how are they taxed? 5. What limitations are S-corporations subject to? 6. Which corporate characteristics does a Limited Liability Company Have and how are they taxed? 7. Discuss the agency problem between the firm's owners and the firm's managers. How can the firms' owners minimize this agency problem?
