Question 18 (3 points) Which allegation on the set up of an engineering firm as a corporation is false? It is is more expensive to set up a corporation than other business forms. It requires extensive corporate records required, including documentation filed annually with the government The liability is unlimited: A creditor can make a claim against the personal assets the shareholders as well as the corporation assets in order to satisfy any debts. It is a separate legal entity, and, accordingly, has its own specific rights and obligations. In general, the shareholders of a corporation are not be personally liable for the debts, obligations or acts of the corporation