A corporate entity per se – has no direct relationship with its stockholders or members. has a personality distinct from its stockholders or members. has a separate proprietary interests on its assets, properties, and business enterprise from those of its stockholders or members. has to have stockholders or members to continue existing

A corporate entity per se – has no direct relationship with its stockholders or members. has a personality distinct from its stockholders or members. has a separate proprietary interests on its assets, properties, and business enterprise from those of its stockholders or members. has to have stockholders or members to continue existing

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter22: S Corporations

Section: Chapter Questions

Problem 11DQ

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Similar questions

Which of the following is not an advantage of the corporate form of business organization? a) unlimited life b) transferability of ownership c) limited liabilitiy of stockholders d) unlimited personal. liability for stockholders
Which of the following characteristics of a corporation limits a stockholder's loss to the amount of his or her investment in the stock of the corporation? a. Separate legal entity b. Separation of ownership and management c. Transferability of ownership d. Limited liability
The economic entity assumption requires that the activities Select one: a. of a sole proprietorship cannot be distinguished from the personal economic events of its owners. b.of an entity be kept separate from the activities of its owner. c. of different entities can be combined if all the entities are corporations. d.must be reported to the Securities and Exchange Commission.
A corporation is not an entity which is separate and distinct from its owners. Select one: True False
Characteristics of a corporation include a.shareholders who are mutual agents b.direct management by the shareholders (owners) c.shareholders who have limited liability d.its inability to own property
Which of the following is not a consequence of a company being a separate legal entity? A. A company has perpetual succession B. A company can sue and be sued in its own name C. A company owns property in its own name D. The management of the company is not separate from the owners
Characteristics of a corporation include Group of answer choices shareholders who are mutual agents direct management by the shareholders (owners) its inability to own property shareholders who have limited liability
which of the which of the following statements always apply to corporations a. unlimited liability b. limited life c. ownership can be transferred without affecting operations e. managers can be fired with no effect on ownership
Under the corporate form of business organization, Group of answer choices a)ownership rights are easily transferred b)a stockholder is personally liable for the debts of the corporation c)stockholders’ acts can bind the corporation even though the stockholders have not been appointed as agents of the corporation d)stockholders wishing to sell their corporate shares must get the approval of other stockholders
Which of the following is not an advantage of the corporate form of business? a. limited liability b. easy transferability of shares c. enhanced ability to raise capital d. lack of government regulation
How would one characterize holding company? a). A company that "holds" only assets, no liabilities b) a company which has no "operational" assets on its balance sheet, just other operating companies c) company that is not organized as a corporation d) a company that holds grudges against another company.
A C corporation can be described as: (a) A business that is separate and distinct from its owners, allowing the owners to conduct business while limiting their personal liability. (b) A business association defined by federal statute. (c) A legal entity that has more than one shareholder. (d) A type of corporation where owners have limited liability, and income, expenses, and deductions flow through to the shareholders and are taxed only at the shareholder level.