or 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 2 it has an unlimited life. Ownership is usually transferred readily Stockholders do not have the power to bind the corporation to contracts. 2 Generally there is no double taxation on corporate income that is distributed to owners It is not a separate legal entity from its owners 2 Owners are agents of the corporation