Of the following statements, which are true for the corporate form of organization? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.)

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