Which of the following statements always apply to corporations? a. Unlimited liability. b. Limited life. c. Ownership

Question:

Which of the following statements always apply to corporations?

a. Unlimited liability.

b. Limited life.

c. Ownership can be transferred without affecting operations.

d. Managers can be fired with no effect on ownership.

PROBLEM SETS Visit us at www.mhhe.com/bma Chapter 1 Goals and Governance of the Firm 17 AppendixLO1

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