please answer correct in detail Identify each of the following characteristics as being an advantage or a disadvantage of the corporate form of business or not applicable to the corporate form of business organization. 1. Seperate legal entity  2. Taxable entity resulting in additional taxes 3. Continuous life

18. The following are examples of corporate expenses deductible from gross income, except one a. Expenses paid to an advertising firm in order to create a favorable image for the corporation b. Contribution to drum up business like contribution of softdrinks to barrio fiesta c. Premiums on life insurance covering the life of an employee if the beneficiary is his heir d. Representation expenses designed to promote business

Identifying advantages and disadvantages of a corporation Following is a list of advantages and disadvantages of the corporate form of business. Identify each quality as either an advantage or a disadvantage. Ownership and management are separated. The entity has a continuous life. Transfer of ownership is easy. Stockholders’ liability is limited. Exposure to double taxation is evident. The entity can raise more money than a partnership or sole proprietorship. Government regulation is expensive.

please answer correct in detail Identify each of the following characteristics as being an advantage or a disadvantage of the corporate form of business or not applicable to the corporate form of business organization. 4. Unlimited liability of owners    5. Government regulations    6. Seperation of ownership and management

Select the best term for each definition below.       Definitions Terms a. Shareholders can lose no more than the amount they invest in the company.   b. Corporate earnings are taxed twice—at the corporate level and individual shareholder level.   c. Like an S corporation, but there are no limitations on the number of owners as in an S corporation.   d. Traces the line of authority within the corporation.   e. Allows for legal treatment as a corporation, but tax treatment as a partnership.   f. Has stock traded on a stock exchange such as the New York Stock Exchange (NYSE).   g. The first time a corporation issues stock to the public.   h. Describes (a) the nature of the firm’s business activities, (b) the shares to be issued, and (c) the composition of the initial board of directors.

Financial Accounting and Reporting: Introduction to Corporation True or False 10. Eleemosynary corporations are those organized for public charity.11. A corporation is an artificial being with personality separate and apart from its individual shareholders or members.12. A corporation has continuity of existence which permits the business to continue regardless of changes in ownership or the death of a shareholder.

+ Choose one nature of organization (SINGLE PROPRIETOR, PARTNERSHIP, CORPORATION) + Based on your choice you need to cite the following + Advantages: If your chosen nature of organization in terms of 1. Formation 2. Tax benefits 3. Decision making Disadvantages: If your chosen nature of organization in terms of 1. Liability 2. Taxes 3. Lack of "continuity" 4. Difficulty in raising capital

withdrawals. Pre-Assessment 1. Give at least 10 sole proprietorship establishment you are familiar with. Forms of Business Organization 1. Sole Proprietorship is a business organization owned by one person. It is owner of the sole proprietorship is the pronrietor In mort caror tho prone

Exercise 11-1 (Algo) Characteristics of corporations LO C1 Match each corporate characteristic 1 through 8 with the description that best relates to it. Characteristic 1. Tax status of income 2. Transferability of ownership 3. Ease of formation 4. Ability to raise large capital amounts 5. Government regulation 6. Duration of life. 7. Mutual agency 8. Legal status Descriptions