Which of the following is not a characteristic of a corporation?

Question

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A corporation is a legal entity that is created by a group of individuals to achieve a common objective. The characteristics of a corporation include associates (owners/shareholders), limited liability (the owners' personal assets are protected from the company's debts), and profit-motive (the company's objective is to make a profit). However, a corporation does not have a limited life as it can continue to exist even after the death of its owners or shareholders.

Which of the Following Is Not a Characteristic of a Corporation