Asked by Azreen Azahari on Jul 27, 2024
Verified
A corporation is a legal entity owned by stockholders whose liability is limited to the value of their stock ownership.See 3-2: The Firm
Corporation
A legal entity that is separate and distinct from its owners, capable of owning assets, incurring liabilities, and conducting business.
Stockholders
Individuals or entities that own shares in a corporation, thereby having a claim to a part of its assets and earnings.
Legal Entity
An individual, company, or organization that has legal rights and obligations, including the capacity to enter legal contracts, sue, and be sued.
- Comprehend the effect of corporate configurations on operational activities and legal responsibilities.
Verified Answer
Learning Objectives
- Comprehend the effect of corporate configurations on operational activities and legal responsibilities.
Related questions
A Major Disadvantage of the Corporate Form of Business Is ...
A Disadvantage of the Corporate Form of Business Organization Is ...
A Major Advantage of the Corporate Form of Business Organization ...
If a Corporation Goes Bankrupt,its Stockholders Will Lose ...
________ Are Amounts Owed to Suppliers for Products or Services ...