Multiple Choice
Which of the following statements is NOT true of a corporation?
A) It can enter into contracts.
B) It is an entity separate from the individuals who own it.
C) It can incur debt that is an obligation of the corporation but not of its individual owners.
D) It has the right to sue and be sued.
E) It is legally obliged to distribute all profits to shareholders.
Correct Answer:
Verified
Correct Answer:
Verified
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