Hana has prepared the following list of statements about corporations. Identify each statement as true or false. 1. A corporation is an entity separate and distinct from its owners.

Which of the following statements is true? A. the organizational form that is the easies to raise capital is the corporation B. corporations make up the largest proportion of businesses in the U.S C. sole proprietorships are protected by limited liability D. owners of corporations are not protected by limited liability

true or false? check pic

What is an important reason business owners choose the election for s corporation status.

TRUE OR FALSE.  IF FALSE WHY. Shareholders elect the board of directors which appoints the management of a corporation.

True/False. In their Articles of Incorporation, corporations that want to maintain flexibility about future business ventures they might engage in often state a very generic corporate purpose (e.g., “engage in any activity that is lawful for domestic corporations”) or do not include a purpose at all if listing a purpose is optional.