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Which one of the following statements is correct? Multiple Choice The majority of firms in the U.S. are structured as corporations. Corporate profits are taxable

image text in transcribed Which one of the following statements is correct? Multiple Choice The majority of firms in the U.S. are structured as corporations. Corporate profits are taxable income to the shareholders when earned. Corporations can have an unlimited life. Shareholders are protected from all potential losses. Shareholders directly elect the corporate president

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