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

• Owners have limited liability for corporate debts.
• Directors oversee its business affairs.
• Stockholders do not have the power to bind the corporation to contracts.
• Transfer of ownership rights among owners generally does not impact equity.
• Compared to other forms of organization- capital (financing) is more difficult to accumulate.
• Generally there is no double taxation on corporate income that is distributed to owners
• Owners are agents of the corporation.