A corporation has which of the following sets of characteristics?
A)subject to personal liability,not a separate taxable entity,terminates at the stockholder's death
B)not taxed,two or more owners,an alternative organizational form to partnerships
C)taxed on earnings,subject to personal liability,used primarily by professional organizations
D)one or more stockholders,indefinite life,no personal liability

Question

Quizplus · Accepted Answer

A corporation is an entity with one or more stockholders, has an indefinite life, and offers limited personal liability to its owners. Additionally, corporations are typically taxed on their earnings. This set of characteristics matches choice D.

A Corporation Has Which of the Following Sets of Characteristics