A corporation is an entity separate and distinct from its owners.		select an option FalseTrue
		As a legal entity, a corporation has most of the rights and privileges of a person.		select an option FalseTrue
		Most of the largest U.S. corporations are privately held corporations.		select an option FalseTrue
		Corporations may buy, own, and sell property; borrow money; enter into legally binding contracts; and sue and be sued.		select an option TrueFalse
		The net income of a corporation is not taxed as a separate entity.		select an option TrueFalse
		Creditors have a legal claim on the personal assets of the owners of a corporation if the corporation does not pay its debts.		select an option FalseTrue
		The transfer of stock from one owner to another requires the approval of either the corporation or other stockholders.		select an option TrueFalse
		The board of directors of a corporation legally owns the corporation.		select an option TrueFalse
		The chief accounting officer of a corporation is the controller.		select an option FalseTrue
		Corporations are subject to fewer state and federal regulations than partnerships or proprietorships.		select an option FalseTrue