Which of the following is not true of a corporation? Oa. It may enter into binding legal contracts in its own name. Ob. It may sue and be sued. c. The acts of its owners bind the corporation. Od. It may buy, own, and sell property. Under the corporate form of business organization, a. ownership rights are easily transferred Ob. a stockholder is personally liable for the debts of the corporation Oc. stockholders wishing to sell their corporate shares must get the approval of other stockholders Od stockholders' acts can bind the corporation even though the stockholders have not been appointed as agents of the corporation Each partner may withdraw the assets he or she contributed to the partnership at any time. O True False The proprietorship is a less widely used form of business than the partnership. O True O False Which of the following would not be considered an advantage of the corporate form of organization? a. separate legal existence Ob. limited liability of stockholders Oc. continuous life d. government regulation One of the major disadvantages of the partnership is its limited life. True False Which of the following is not a characteristic of a corporation? Oa. A corporation can own property in its name. b. Cash dividends paid by a corporation are deductible as expenses by the corporation. Oc. Corporations are required to file federal income tax returns Od. The financial loss that a stockholder may suffer from owning stock in a public company is limi A disadvantage of partnerships is the mutual agency of all partners. True O False With a partnership, there is no limitation on legal liability. O True O False One of the main disadvantages of the corporate form is the Oa. requirement to stock Ob. charter Oc. professional management d. double taxation of dividends