Which of the following statements below is correct about a corporation and a partnership?
A) A partnership is comprised of two or more owners,whereas a corporation must have only one owner.
B) A corporation is legally responsible for its own taxes and debts.
C) Owners of both entities are legally responsible for the taxes and debts of the business.
D) Both entities issue shares of stock to owners.
Correct Answer:
Verified
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Q34: Which of the following is a characteristic
Q35: Which of the following is typically considered
Q36: Public corporations are businesses:
A)owned by two or
Q37: Internal users of financial data include:
A)investors.
B)creditors.
C)management.
D)regulatory authorities.
Q39: A sole proprietorship is:
A)a separate legal and
Q40: An investor who is looking at a
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Q42: Which of the following would not represent
Q43: A cost of doing business is referred
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