os 13-1 Characteristics of corporations LO C1 Of the following statements, which are true for the corporate form of organization? (Select ll that apply) 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 difcult to ccumulate Generally there is no double taxation on corporate income that is distributed to owners owners are agents of the corporation. eBook & Resources References eBook: Characteristics of Corporations