QS 11-1 (Static) Characteristics of corporations LO C1 Identify which of the following statements 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. Any boxes left with a question mark will be automatically graded as incorrect.) Ownership rights cannot be easily transferred. 7 Owners have unlimited liability for corporate debts. 7 Capital is more easily accumulated than with most other forms of organization. 2 Corporate income that is distributed to shareholders is usually taxed twice. ? It is a separate legal entity. ? It has a limited life. 1 Owners are not agents of the corporation