What is the major difference between a corporation and other kinds of businesses?
a. A corporation is a separate entity apart from that of the owners.
b. A corporation is not responsible for its debts if it fails.
c. A corporation is much larger than other kinds of businesses.
d. A corporation has officers who are responsible for the business.
Ans: a. A corporation is a separate entity apart from that of the owners.
You might also like to view...
If the U.S. purchased $100 billion in foreign assets and foreigners purchased $50 billion of U.S. assets, which of the following is true?
a. Net exports equal -$50 billion. b. Exports total $100 billion. c. There is a trade deficit. d. Net exports equal $50 billion. e. Imports total $50 billion.
In a perfectly competitive market, if the price of a good is higher than the average total cost of production for the quantity produced, the firm will suffer losses
a. True b. False Indicate whether the statement is true or false