Which of the following is a characteristic of a corporation?
A)Mutual agency
B)Stockholder liability for business debts
C)Indefinite existence
D)Taxable at individual rates

Question

Quizplus · Accepted Answer

Indefinite existence is a characteristic of a corporation, meaning that it can continue to exist beyond the lifetimes of its owners or managers. Mutual agency is a characteristic of a partnership, not a corporation. Stockholder liability for business debts is a characteristic of a sole proprietorship or partnership, not a corporation. Taxation of a corporation depends on the specific entity and can be taxed either at corporate or individual rates.

Which of the Following Is a Characteristic of a Corporation