menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Financial and Managerial Accounting Study Set 8
  4. Exam
    Exam 28: Forms of Business Organization
  5. Question
    A Corporation Is a Legal Entity That May Enter into Contracts,may
Solved

A Corporation Is a Legal Entity That May Enter into Contracts,may

Question 15

Question 15

True/False

A corporation is a legal entity that may enter into contracts,may sue or be sued,and is responsible for its own debts.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q10: When evaluating the liquidity of a proprietorship,creditors

Q11: The adjusting entry to recognize income taxes

Q12: Limited personal liability is a characteristic of

Q13: "Double taxation" means:<br>A)A corporation must pay double

Q14: Sue and Al form a partnership.Sue invests

Q16: Closely held corporations have the same ability

Q17: Retained earnings are a fund of cash

Q18: Salary allowances to partners when dividing net

Q19: Grey,Dailey,and Sanders have formed a partnership.Net income

Q20: Stewart and Brooke form a partnership.Stewart invests

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines