A business organized as a corporation
A)is not a separate legal entity in most states.
B)requires that stockholders be personally liable for the debts of the business.
C)is owned by its stockholders.
D)has tax advantages over a proprietorship or partnership.

Question

Quizplus · Accepted Answer

A corporation is a separate legal entity owned by its stockholders, who are not personally liable for the corporation's debts.

A Business Organized as a Corporation