A corporation is a legal entity that may enter into contracts,may sue or be sued,and is responsible for its own debts.
Correct Answer:
Verified
Q13: When a sole proprietorship incorporates,the assets of
Q14: In a limited liability partnership,a partner has
Q15: The entry to record the issuance of
Q16: Limited personal liability is a characteristic of
Q17: The ability of a sole proprietorship to
Q19: Retained earnings are a fund of cash
Q20: The assets of a partnership belong jointly
Q21: Income taxes to a partnership:
A)Are an obligation
Q22: Regardless of whether partners in a partnership
Q23: The net income of a sole proprietorship
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents