Which of the following is a characteristic of a corporation? Multiple Choice O O O The owners bear all the responsibility of the business's debts. It is owned and managed by one person. It is an independent legal entity on its own. The 2 owners pool their business talents to run the business.
Which of the following is a characteristic of a corporation? Multiple Choice O O O The owners bear all the responsibility of the business's debts. It is owned and managed by one person. It is an independent legal entity on its own. The 2 owners pool their business talents to run the business.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![Which of the following is a characteristic of a corporation?
Multiple Choice
O
O
O
The owners bear all the responsibility of the business's debts.
It is owned and managed by one person.
It is an independent legal entity on its own.
The 2 owners pool their business talents to run the business.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F739eb98c-667b-4eff-a83f-d80ec48ad210%2Fea1be3a9-a399-4f26-a2b5-f363ad7bbed0%2F30j9vm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Which of the following is a characteristic of a corporation?
Multiple Choice
O
O
O
The owners bear all the responsibility of the business's debts.
It is owned and managed by one person.
It is an independent legal entity on its own.
The 2 owners pool their business talents to run the business.
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