Which of the following statements is incorrect?

Productive assets, which are long term in nature, are financed by long$-$term borrowing. equity investment, or both.

Equity has no maturity, and there are no guaranteed payments to equity investors.

Owners of corporations have unlimited liability because corporations are not legal persons that take actions in their own names, but in the names of individual owners.

All the answers are correct except one.

In a large corporation, the senior financial manager usually has the rank of vice president or senior vice president and goes by the title of chief financial officer, or CFO.