Since a corporation is responsible for its debts, creditors may sue it for payment.
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Q3: The creditors of corporations are equally liable
Q4: Corporate bylaws specify the relationship between the
Q5: One major advantage of incorporating is permanence.
Q6: The corporate income tax rates increase as
Q7: Owners in which of the following forms
Q9: Possible advantages of incorporating include
1) permanency
2) ease
Q10: If a firm needs additional equity financing
Q11: Partnerships constitute the largest number of firms.
Q12: Partnerships pay tax on their earnings at
Q13: Owners in S corporations or LLCs lack
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