Which of the following is not true regarding corporations?
A) A corporation is formed with the issuance of a state charter and is governed by state corporation laws.
B) Corporate shareholders are personally liable for the business obligations of the corporation.
C) Corporate income is subject to double taxation.
D) A corporation may be sued.
Correct Answer:
Verified
Q49: A partnership is based on a(n)_ between
Q50: A person hired by the corporate board
Q51: In a limited partnership, the _partners manage
Q52: A person elected by the shareholders to
Q53: Which of the following is not among
Q55: A partnership must file an
A) informational return
Q56: An officer in a corporation is which
Q57: The_ is a codification of modern corporation
Q58: Andy invests $5,000 as a limited partner
Q59: Megan purchases corporate shares in ArticFun, Inc.
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