Which of the following is a primary legal characteristic of the corporate form of business?
A) The management of the business is centered in a Board of Directors elected by the shareholders.
B) A shareholder must seek permission to sell his stock.
C) The life of the corporation will terminate when a majority of the shareholders die or cease to exist.
D) A shareholder is personally liable for the debts of the corporation.
Correct Answer:
Verified
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