Essay
Identify (by letter) each of the following characteristics as being an advantage, a disadvantage, or not applicable to the corporate form of business organization.
A = Advantage
D = Disadvantage
N = Not Applicable
Characteristics
1. Separate legal entity
2. Taxable entity resulting in additional taxes
3. Continuous life
4. Unlimited liability of owners
5. Government regulation
6. Separation of ownership and management
7. Ability to acquire capital
8. Ease of transfer of ownership
Correct Answer:
Verified
1. A 5. D
...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q91: Under the cost method Treasury Stock is
Q115: Treasury stock purchased for $25 per share
Q125: Each stockholder in a corporation has a
Q127: When the selling price of treasury stock
Q128: The following stockholders' equity accounts, arranged alphabetically,
Q130: Horner Corporation is authorized to issue 1,000,000
Q131: Yount Company originally issued 30,000 shares of
Q136: Kendrick Corporation was organized on January 2,
Q143: Which of the following statements concerning taxation
Q191: The stockholders' equity section of a corporation's