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Next to the following list of eight characteristics of business organizations, select a brief description of how each characteristic applies to corporations. Descriptions High because

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Next to the following list of eight characteristics of business organizations, select a brief description of how each characteristic applies to corporations. Descriptions High because buying stock is attractive Characteristic 1. Ability to raise large capital amounts 2. Duration of life 3. Government regulation 4. Legal status 5. Mutual agency 6. Owner authority and control 7. Owner liability 8. Tax status of income High because buying stock is attractive Indefinite More severe than partnerships and proprietorships Entity with similar rights as individual Stockholders cannot bind corporation to contracts Next to the following list of eight characteristics of business organizations, select a brief description of how each characteristic applies to corporations. Descriptions High because buying stock is attractive Characteristic 1. Ability to raise large capital amounts 2. Duration of life 3. Government regulation 4. Legal status 5. Mutual agency 6. Owner authority and control 7. Owner liability 8. Tax status of income Entity with similar rights as individual Stockholders cannot bind corporation to contracts Shareholders elect board of directors Not liable for corporation actions or debt Taxed a second time on owner's personal return

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