Which of the Following Is a Characteristic of a Corporation

Multiple Choice

Which of the following is a characteristic of a corporation but not of a small family-owned business?

A) The corporation buys inputs in markets for the factors of production.
B) The corporation sells output in markets for goods and services.
C) The corporation is guided in its decisions by the objective of profit maximization.
D) The corporation faces a principal-agent problem created by the separation of ownership and control.