Corporation:
It is the form of business organization in which business has its own separate legal entity. It gives the owner of the business the advantage to has limited liability.
Requires government approval:
It means that the work done by someone requires government approval before it is done.
Corporate income is taxed:
It means the income earned by the corporation is taxed.
Separate Legal Entity:
It means that the corporation and the owner of corporation are different persons in the eyes of law.
Readily Transferred:
It means that one thing can be transferred from one place to another easily such as, ownership of the company.
One Vote per Share:
It means that one person who has one share will count as one vote in a particular meeting.
High ability:
It means that something has high possibility like in corporations; high amount of capital can be raised.
Unlimited:
It means that something has no limit to it extent like life of a corporation.
Limited:
It means that it is available in limited extent or its extent is limited.
To identify: The suitable description for given characteristics of corporate.
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Chapter 11 Solutions
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