Victoria has prepared the following list of statements about corporations

identify each statement as true or false

Victoria has prepared the following list of statements about corporations. Identify eachstatement as true or false. 1. A corporation is an entity separate and distinct from its owners. 2. As a legal entity a corporation has most of the rights and privileges of a person. 3. Most of the largest corporations are privately held corporations. 4. Corporations may buy, own, and sell property: borrow monersenter into legally binding contracts; and sue and be sued, 5. The net income of a corporation is not taxed as a separate entity. 6. Creditors have a legal claim on the persanal assets of the cwhers of a corporation if the corporation does not pay its debts. 7. The transier of shares from one owner to another recuires the approval of either the corperation or other shareholders. 4. Corporations may buy, own, and sell property; borrow money; enter intolegally binding contracts; and sue and besued. 5. The net income of a corporation is not taxed as a separate entity. 6. Creditors have a legal claim on the personal assets of the owners of a corporation if the corporation does not payits debts. 7. The transfer of shares from one owner to another requires the approval of either the corporation or other shareholders. 8. The board of directors of a corporation legally owns the corporation. 9. The chief accounting officer of a corporation is the controller. 10. Corporatiors are subject to fewer regulations than partnerships or proprietorships