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Identify Each of the Following Characteristics as Being an Advantage

Question 203

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Identify each of the following characteristics as being an advantage of (A), a disadvantage of (D), or not applicable to (N) the corporate form of business

Premises:
Separate legal entity
Taxable entity resulting in double taxation
Continuous existence
Unlimited liability
Government regulation
Mutual agency
Ease of transfer of ownership
Ease of capital generation
Lack of mutual agency
Professional management
Responses:
advantage of
disadvantage of
not applicable to

Correct Answer:

Separate legal entity
Taxable entity resulting in double taxation
Continuous existence
Unlimited liability
Government regulation
Mutual agency
Ease of transfer of ownership
Ease of capital generation
Lack of mutual agency
Professional management
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