A corporation is a legal entity that is combined with the owner's economic circumstances.
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Q15: Profits may be either reinvested in a
Q16: A transfer of shares by a shareholder
Q17: Articles of incorporation form the corporation's "constitution".
Q18: A corporation acts under its own name
Q19: Creditors have access to corporate assets only
Q21: Income tax expense must be added on
Q22: Convertible preferred shares give common shareholders the
Q23: Retained earnings are the cumulative profits or
Q24: A redeemable preferred share gives shareholders the
Q25: Authorized share capital is the amount of
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