Hana has prepared the following list of statements about corporations. Identify each statement as true or false.

1.		A corporation is an entity separate and distinct from its owners.		select an option TrueFalse
2.		As a legal entity, a corporation may buy, own, and sell property; borrow money; and enter into legally binding contracts.		select an option TrueFalse
3.		Shareholders have the right to vote, and to receive dividends on an annual basis.		select an option TrueFalse
4.		The profit of a corporation is not taxed as a separate entity.		select an option TrueFalse
5.		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 TrueFalse
6.		In a public company, the transfer of shares from one owner to another requires the approval of either the corporation or other shareholders.		select an option TrueFalse
7.		The board of directors of a corporation is elected by the shareholders.		select an option TrueFalse
8.		Corporations are subject to fewer provincial and federal regulations than partnerships or proprietorships.		select an option TrueFalse