Which of the Following Statements About the Operation of a Corporation

Multiple Choice

Which of the following statements about the operation of a corporation is correct?

A) A corporation is a separate entity and is legally formed under state laws.
B) A corporation automatically expires in 99 years and must be renewed if a corporation wants to remain in business.
C) Owners of a corporation have unlimited liability for any claims against their company.
D) A corporation tends to be much easier to set up than a sole proprietorship or partnership.
E) All profits and losses flow through the corporation owners' personal tax returns.