A business organized as a corporation
A)is not a separate legal entity in most provinces.
B)requires that shareholders be personally liable for the debts of the business.
C)is owned by its shareholders.
D)has income tax disadvantages over a proprietorship or partnership.

Question

Quizplus · Accepted Answer

Corporations are owned by their shareholders, who invest money in the business by buying shares of the company. This ownership structure is a fundamental characteristic of corporations.

A Business Organized as a Corporation