Next to the following list of eight characteristics of business organizations, s

Question

Next to the following list of eight characteristics of business organizations, select a brief description of how each characteristic applies to corporations. 1. Owner authority and control 2. Ease of formation 3. Transferability of ownership 4. Ability to raise large amounts of capital 5. Duration of life 6. Owner liability 7. Legal status 8. Tax status of income Descriptions: corporate income is taxed, high ability, limited, one vote per share, readily transferred, requires government approval, separate legal entity, unlimited

Explanation / Answer

A Corporation is a legal entity. It has its own separate entity from its owner which are stockholders. Here I am going to explain how the eight characteristic of business are applied in the corporations.

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