Of the following statements, which are true for the corporate form of organization? 1. Ownership rights cannot

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Of the following statements, which are true for the corporate form of organization?

1. Ownership rights cannot be easily transferred.

2. Owners have unlimited liability for corporate debts.

3. Capital is more easily accumulated than with most other forms of organization.

4. Corporate income that is distributed to shareholders is usually taxed twice.

5. It is a separate legal entity.

6. It has a limited life.

7. Owners are not agents of the coiporation

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Fundamental Accounting Principles Volume 2

ISBN: 9780077716660

21st Edition

Authors: John Wild, Ken Shaw, Barbara Chiappetta

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