FriesAintHere1240 FriesAintHere1240
  • 02-09-2020
  • Business
contestada

A corporation is a distinct ______ entity and as such can have a name and take advantage of the legal powers of natural persons

Respuesta :

ewomazinoade ewomazinoade
  • 03-09-2020

Answer:

Legal

Explanation:

A corporation is a business that is owned by shareholders. The corporation is a separate legal entity and so it can sue and be sued, pay taxes and own assets.

Advantages of a corporation include :

  1. they have unlimited liabilities
  2. they have unlimited life. the business doesn't end even after the death of the owners unlike a sole proprietorship
  3. they have more access to capital

Disadvantages of a corporation include :

high cost of setting up

Earnings to shareholders are taxed twice

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