Which of the following statements is not true regarding the characteristics of a corporation?
A) A corporation is a legal entity distinct from its owners.
B) A corporation is owned by shareholders.
C) The corporation itself is responsible for its liabilities.
D) The board of directors implements the decisions of the officers.

Question

Quizplus · Accepted Answer

The statement "The board of directors implements the decisions of the officers" is not true regarding the characteristics of a corporation. The board of directors is responsible for making major decisions and providing oversight to the officers who handle day-to-day operations.

Which of the Following Statements Is Not True Regarding the Characteristics