Multiple Choice
Which of the following is true regarding corporations other than S corporations?
A) A corporation is not a separate legal entity.
B) A corporation may not be sued.
C) A corporation is created according to federal law.
D) Shareholders may typically be held liable for debts of the corporation.
E) The corporation must pay taxes on profits, and shareholders must pay taxes on dividends they receive from the corporation.
Correct Answer:
Verified
Correct Answer:
Verified
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