A corporation:

Answer

is ultimately controlled by its board of directors.

is a legal entity separate from its owners.

is prohibited from entering into contractual agreements.

has its identity defined by its bylaws.

has its existence regulated by the rules set forth in its charter

Question

Shannon Cole

Business

3 December, 16:07

A corporation:

Answer

is ultimately controlled by its board of directors.

is a legal entity separate from its owners.

is prohibited from entering into contractual agreements.

has its identity defined by its bylaws.

has its existence regulated by the rules set forth in its charter

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Answers (1)

Know the Answer?

Jessica Livingston · Answer 1

is a legal entity separate from its owners.

Explanation:

A corporation is a legal entity separate from its owners.

A corporation is most appropriately defined as a legal entity that is separate and distinct from its owners.

Corporations as a separate legal entity enjoys the rights and responsibilities that individuals possess: they can on their own enter contracts, secure loans and issue equity,

Furthermore, a corporation can sue and be sued, it can hire employees, take ownership of assets, and is required by the government to pay taxes.

A corporation:Answeris ultimately controlled by its board of directors.is a legal entity separate from its owners.is prohibited from entering into contractual agreements.has its identity defined by its bylaws.has its existence regulated by the rules set forth in its charter

A corporation:

Answer

is ultimately controlled by its board of directors.

is a legal entity separate from its owners.

is prohibited from entering into contractual agreements.

has its identity defined by its bylaws.

has its existence regulated by the rules set forth in its charter