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Financial Accounting

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Moderate

Characteristics of a Corporation

FINACT-L4JFLV

Which of the following statements is/are TRUE about a corporation?

Select ALL that apply.

A

Its owners are called stockholders, and their ownership is represented by shares of stock.

B

Its owners directly control the corporation's operations.

C

Its owners are liable for the business obligations.

D

It is a type of business organization that has multiple owners.

E

It is a type of business organization that is legally separate from its owners.