Question 5 Of the following statements, which are true for the corporate form of organization? Owners...

Question 5

Of the following statements, which are true for the corporate form of organization?

Owners have limited liability for corporate debts

Directors oversee its business affairs Stockholders do not have the power to bind the corporation to contracts

Transfer of ownership rights among owners generally does not impact equity

Compared to other forms of organization-capital (financing) is more difficult to accumulate

Generally there not double taxation on corporate income that is distributed to owners

Owners are agents of the corporation

Solutions

Expert Solution

ekkarill92 answered 10 months ago

Next > < Previous

Related Solutions

Identify which of the following statements are true for the corporate form of organization. (You may...

Identify which of the following statements are true for the corporate form of organization. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.) Owners have limited liability for corporate debts.unanswered Shareholders are not personally liable for corporate acts.unanswered The sale of shares from one stockholder to another...

Identify which of the following statements are true for the corporate form of organization. (You may...

Identify which of the following statements are true for the corporate form of organization. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.) Shareholders are not personally liable for corporate acts.unchecked Directors oversee its business affairs.unchecked The sale of shares from one stockholder to another does not...

Of the following statements, which are true for the corporate form of organization? (you may select...

Of the following statements, which are true for the corporate form of organization? (you may select more than one) 1. Directors oversee its business affairs.unchecked 2. Stockholders do not have the power to bind the corporation to contracts.unchecked 3.It has a continuous life.unchecked 4.Transfer of ownership rights among owners generally does not impact equity.unchecked 5.Compared to other forms of organization- capital (financing) is more difficult to accumulate.unchecked 6.Generally there is no double taxation on corporate income that is distributed to...

Which of the following is NOT a characteristic of the corporate form of business organization? separate...

Which of the following is NOT a characteristic of the corporate form of business organization? separate legal entity responsible for paying its own income taxes shares are transferable unlimited liability

4.Which of the following is not a major advantage of a corporate form of organization? Separate...

4.Which of the following is not a major advantage of a corporate form of organization? Separate legal existence. Continuous life. Government regulations. Transferable ownership rights. 5. ABC Corporation issues 1,000 shares of $10 par value common stock at $12 per share. In recording the transaction, credits are made to: Common Stock $10,000 and Paid-in Capital in Excess of Stated Value $2,000. Common Stock $12,000. Common Stock $10,000 and Paid-in Capital in Excess of Par $2,000. Common Stock $10,000 and Retained...

16. Which of the following statements about partnerships are true? A. Partnerships afford their owners a...

16. Which of the following statements about partnerships are true? A. Partnerships afford their owners a liability shield against claims from third parties. B. For tax purposes, partnerships are pass through entities. C. Absent an agreement to the contrary partnerships do not survive the death of one of the partners. D. Partnerships are relatively easy to form. 17.The Securities and Exchange Commission holds primary responsibility for which of the following. Check all that apply. A. Determining the offering price for...

which of the following statements is true? - A separate form 8949 must be filed for...

which of the following statements is true? - A separate form 8949 must be filed for each transaction for which the tax payer did not receive a form 1099B. - any taxpayer must file a separate schedule D for each form 1099B transaction with bases reported to the IRS. - short term transactions are reported on form 8949 and long-term transactions are reported on schedule D. - The totals from each schedule D are combined on form 8949.

In this discussion question you will discuss the corporate form of business organization: What are the...

In this discussion question you will discuss the corporate form of business organization: What are the advantages and disadvantages of the corporate form of business organization? How does the corporate form of organization compare to sole proprietorships and partnerships? What are the advantages and disadvantages of each? If you were to start a business today, which of these forms of business organization would you chose? What would be the single deciding factor that would help you in your decision? Why?

5) Which of the following is a STRENGTH of the sole proprietorship form of organization? You...

5) Which of the following is a STRENGTH of the sole proprietorship form of organization? You are identifying a strength, not a weakness. Profits are subject to one level of taxation. Owner faces LIMITED liability. Shares of stock make ownership easily transferable. Profits are subject to two levels of taxation. 6) Which of the following is a WEAKNESS of the corporate form of organization? You are identifying a weakness, not a strength. Profits are subject to one level of taxation....

Which of the following statements is TRUE? Multiple Choice The goal of a corporate financial manager...

Which of the following statements is TRUE? Multiple Choice The goal of a corporate financial manager is to maximize the wealth of the firm’s lenders. A distinct feature of sole proprietorship is the separation of ownership and management. The goal of a corporate financial manager is to maximize the firm’s profit. Agency problem is the conflict of interest between a firm’s principal and its agent.

Subjects