characteristics of a corporation quizlet

One of the disadvantages of a corporate structure is the corporation pays its own tax burden on net income and then the stockholders pay income tax on the dividends they receive. Professionals should always strive for a professional appearance, including appropriate attire and proper hygiene and grooming. Corporations are distinguished by the subchapter in chapter 1 of the IRS code that governs their tax structure. ii) Formed by partnership agreement and filing certificate with the state C) Most important is cash flow from operating activities a) Board of directors must recommend the amendment, which must then be approved by the holders of at least a majority of its outstanding stock i) A non-shareholder defendant may be, "in reality" the equitable owner of a corporation where the non-shareholder defendant "exercises considerable authority over the corporation to the point of completely disregarding the corporate form and acting as though its assets are his alone to manage and control", Piercing the Corporate Veil -- Parent-Subsidiary Corporation, A) *Alter Ego Doctrine* Allows the imposition of liability on a corporation for the acts of another corporation when the subject corporation is organized or operated as a mere tool or business conduit Nearly every large US company has an intelligence office of some kind. 1) GAAP (Generally Accepted Accounting Principals): Characteristics of Entrepreneurs 1.Risk taker 2. A corporation is treated as a "person" with most of the rights and obligations of a real person. c) If you or a family member are affiliation in any way with some outside auditor of the company, i) *Audit Committee* Assume December 31 falls on a Tuesday, so Lovreks employees have worked 2 days without being paid. 10) The board and board committees should conduct a rigorous self-assessment at least every two years, Key Responsibilities of Effective Board Members, A) Providing the institution with effective, competent management 2) Board members should be recruited for their relevant business, industry or financial expertise E) Packets provided to members don't contain pertinent information or are in a format that makes determining risk exposures and judging the effectiveness of risk management difficult Ability to increase capital by selling stocks. a) Articles of incorporation will create authorized shares See Answer What are the Characteristics of Corporations? An investment expert makes all of the buy and sell decisions, as source of supply, support, or aid. ii) The derivative suit was developed to alleviate this problem What theory is involved in the modern corporation? A corporation is owned by stockholders C. All shares of a corporation must be held by a single individual D. Each stockholder has the authority to commit the corporation to a binding contract through his actions. As a corporation is owned by stockholders and managed by employees, the sale of stock, death of a stockholder, or inability of an employee to function does not impact the continuous life of the corporation. A. (10) Intermingling of property between entities Ownership evidence by shares of stock 3. Separation of owners and entity (no mutual agency). Therefore, corporations may own property, enter into binding contracts, borrow money, sue and be sued, and pay taxes. Upon conversion of all the bonds, Bridgewater Corp. recorded the$160,000 premium as a reduction of paid-in capital. maintaining employment process training and development staff, Latin for "let the seller beware"; sellers need to take responsibility for the products they sell, process by which people attempt to preserve, protect, and manage resources, one who selects, purchases, uses, or disposes of services or goods, a movement to pass laws that protect the consumer from unsafe and unfair business practices, basic rights of consumers to safety, to be heard, to choose, to be informed, to have problems corrected, to consumer education, and to service, business practices that are deliberately misleading, the legal responsibility a manufacturer has to make a safe product, collecting items for processing so that they might be used again, when someone advertises a product at a low price to lure consumers into the store, then tries to get them to switch to a more expensive item, a card allowing someone to make a purchase on borrowed money. 1) Cash = money in the till and money in demand deposits in the bank 2 Which one of the following is not a characteristic of a corporation? ii) If you have a good cash flow from investing and you're not an investing company that can be odd & sometimes it could be from debt, i) Represents permanent commitments of capital to a corporation by which the contributor is given shares in the corporation in the type of share that the corporation is authorized to issue Required fields are marked *. a) Is that third party reasonable in assuming that the agent has the authority to bind the principal? The filing fee for Articles of Incorporation is $100. service business. Courteous : I care about workplace atmosphere. b) Responsible for nominating candidates for the board of directors and deciding whether current directors should be nominated for reelection The liability of stockholders is limited to the amount each has invested in the corporation. a) You have been an employee of the company, or a family member has been an executive of the company Business entities are legal organizations that exist by virtue of state law. Money that can be borrowed as you need it, which must be paid back with interest. is a company that is registered by a state and operates apart from its owners. vi) Majority decision making, i) Partnership w/ general & limited partners High Fence Whitetail Hunts Nestled in the hills of south central Kentucky lies an oasis of trophy whitetail bucks and the best Kentucky deer hunting you've ever seen. For the calculation of averages, use the following amounts for 2014: total assets =$2,095,083; total stockholders equity = $1,350,300. Comment on Bridgewater's treatment of the $160,000 "sweetener. Owner liability Limited 7. Most corporate detectives avoid terms like spying and espionage, preferring the more dignified label "competitive intelligence", but whatever they call it, snooping on business rivals has become an entrenched sub-industry. What will she spend in each stage of her life? Characte ii) *Compensation Committee* i) Revenue - Cost = Income Generally Accepted Accounting Principles Which of the following is a characteristic of a corporation? ii) Income - Dividends = Retained earnings The five main characteristics of a corporation are limited liability, shareholder ownership, double taxation, continuing lifespan and, in most cases, professional management. (3) Intermingling of funds; Ability to Acquire Capital. (d) You borrow money in August from RBC Financial Group. 3) Any independent internal audit function (even if part-time) should be in place and report directly to the audit committee A corporation can sell shares to new investors, and larger entities can issue bonds to obtain a significant amount of debt financing. G) Attending meetings and actively participating in board discussions Thrifty (not wasteful!) Good people understand that others need praise. It can be easier for a corporation to acquire debt and equity, since it is not constrained by the financial resources of a few owners. b) Be composed solely of independent directors i) Model Business Corporation Act (MBCA) Not a real statute that has been enacted by a legislature. What is an example of a business that would have a high inventory turnover? You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Mutual agency 6. These taxes are substantial; they can amount to more than 40% of taxable income publicly held corporation These 5 qualities make a logo instantly identifiable, and ensure that when customers look at it, they'll connect with your brand. Brightstone estimates that this certification would cost$165,000. ". Double taxation. What are the 4 attributes of corporation? By setting up a PAC only those who support the politician can give money Transferability of ownership Readily transferred 4. Clothing should always be clean and ironed properly. 6) Amend the Bylaws, Warrant gives the creditor the option to buy the stock by a particular time, for a particular price, and when this is exercise the corporation has to issue additional stock to cover the obligation, i) A bond is a loan to the company for a fixed period of time Often secured by property. What is the nervous system tissue called? A truly good person will compliment when deserved and offer constructive criticism when warranted. Memorable. Watch on Forbes: 1. Particularly in a public company, the stock can be easily transferred in part or total at the discretion of the stockholder. Often, a bullwhip type of effect occurs. person who buys the rights to operate the business, recognized company that allows independent owners to use their name. So, the minimum grand total for forming a California corporation is $125. In addition, Euro has made the order conditional on receiving European safety certification. Assertive (takes the initiative in a good way!) The five main characteristics of a corporation are limited liability, shareholder ownership, double taxation, continuing lifespan and, in most cases, professional management. Output25,00050,00075,000100,000TC$100,000150,000187,500275,500MC$0.501.002.503.00. a business that uses mostly labor to offer intangible products. Example #5 ? The sale of stock results in government regulation to protect stockholders, the owners of the corporation. Identify the two types of relevant costs. Enforcing a claim for breach of fiduciary duty i) Shareholders are not authorized to act directly for the corporation, and thus cannot enforce a corporate claim against the managers They are kind to everyone. Brightstone pays a selling commission equal to 5\% of the selling price on North American orders, which is included in the variable portion of the selling and administrative expenses. Assume that the most efficient production technology available for making vitamin pills has the cost structure given in the following table. ii) Debt Securities generally are the least risky and have the lowest expected return. Ambitious 5. Will consumption remain the same over the course of the consumer's life? Dividends. Limited liability 5. In some states, stockholders are called shareholders. Latin for "let the buyer beware"; buyers need to know what they are purchasing, whether it has a warranty, etc. How much does it cost to start a California corporation? Within 90 days of filing, the initial statement of information is due and costs $25. Prepare the December 31 adjusting entry and the entry on Monday, January 6, when Lovrek pays the payroll. Separate Legal Existence These characteristics are noted below. Example #7 ? lego 41446 friends heartlake city vet clinic. 5) Vote to amend to Articles For each transaction a through f, identify its impact on the accounting equation (select from 1 through 5 below). i) Must be a quorum present Expert Answer. In general, the chief executive officer (CEO) is considered the highest-ranking officer in a company, while the president is second in charge. Means that the relationship between shareholders and managers (directors and officers), will be governed by the corporate statutes and case law of the state where the corporation is incorporated a business that produces goods used by other businesses or organizations. 5 What are the 4 attributes of corporation? A corporation is a legal entity, meaning it is a separate entity from its owners who are called stockholders. H) Board minutes are poorly kept and contain little information on matters discussed during the meetings or actions taken by the board Characteristics of a corporation include a. E) Knowing where the institution stands and staying abreast of its financial health Apple. Separate legal existence 2. 4) A code of ethics that applies to all officers, board members, and employees should be adopted and monitored for adherence by the board What are the Characteristics of Corporations? Ability to raise large amounts of capital High ability 5. Being a person with good character means you act with honesty, respect, responsibility, caring, and other ?good? An LLC?s life is terminated at any member?s choice or death Caleb Brown is the sole owner of a bicycle sales and repair shop from several years. Ability to raise large capital amounts 2. Usually represents a very large portion of the assets of firms engaged in financing businesses a) *Current ratio = Current Assets / Current Liabilities* a) The corporation pays taxes, not individuals 3) Accounts Receivable = amounts not yet collected from customers to whom goods have been shipped or services delivered Profits (Losses) can be shared among members in any proportion the members desire. Limited to their investment. Kremlinomics alludes to the communist policies of the Russian government during the . Study online at quizlet/_4on6v. Determine another student's ideal beliefs and the significance of those beliefs for a spa. A) Corporations raise money by issuing securities to their investors. 1) A principal advantage of the corporate form is that a shareholders potential loss is limited to the amount that she invested in the enterprise. Your email address will not be published. Publicly held companies with stock traded on exchanges are required to file their financial statements and additional informative disclosures with the Securities and Exchange Commission. C) Last in, last out Method visualizes inventory as being added to and sold from the top of the stack, Accounting & Financial Reporting - Fixed Assets , Sometimes referred to as long-term assets or as property plant and equipment, are assets a firm uses to conduct its operations A. shareholders who have limited liability B. shareholders who are mutual agents C. its inability to own property D. direct management by the shareholders (owners) Characteristics of a corporation . ii) Bond is a K that is governed by the terms and the K and the terms are set forth in what is called an Indenture 100,000 & 275,500 & 3.00 What are 2 characteristics of a corporation? 3) Ability to have influence as to who is put on the ballet as a nominee Hard worker 4. Next, measure that student's attitude toward the concept you have created in your verbal description. Identify when revenue should be recognized in the given situation. D) Meeting materials are sent in advance, but board members do little or no preparation c. lead time 1) If they find no irregularities they offer a "clean" opinion that it represents fairly in all material aspects \text{Total}&\underline{\$129}\\ So let?s get into a list of character traits ? c) Keeping detailed minutes of the meeting, AgencyAction Binding the Corporation Parties to the legal agency relationship, i) Corporation = Principal Is Mutual Agency a characteristic of a corporation? Once a public corporation sells its initial offering of stock, it is not part of any subsequent transfers except as a record keeper of share ownership. Government regulation 4. Amazon was founded in 1994 and is a world leader in e-commerce. i) If you have a good cash flow from operating activities you have a health business Tip. Amazon. Ownership and management are vested in the same person. Limited Liability of Stockholders. The same is true for any lawsuits or insurance claims against the company. So, the minimum grand total for forming a California corporation is $125. Brightstone Tire and Rubber Company has capacity to produce 170,000 tires. Eisenhardt suggests that organizations should have two to seven key goals, or rules, using her vocabulary (Eisenhardt & Sull, 2001).Such goals guide how the firm operates, identify which opportunities to pursue, set priorities, manage timing of actions, and even inform business exit decisions. Ownership of a corporation is held in shares of capital stock, which are transferable units. i) Court's won't usually impose this strict approach on contract creditors, but they may do it for financial institutions or lenders, Piercing the Corporate Veil -- Equitable Ownership of the Corporation, A) An individual who exercised sufficient control over the corporation may be deemed to be an "equitable owner," notwithstanding the fact that the individual is not a shareholder of the corporation Domino?s Pizza. They remember their manners. Microsoft. A corporation can sell shares to new investors, and larger entities can issue bonds to obtain a significant amount of debt financing. Enjoys challenges 7. Characteristic Corporations 1. Dividends. This gives a corporation a larger pool of resources because it is not limited to the resources of a small number of individuals. It may be established as a profit making or nonprofit organization and may be publicly or privately held. Example #3 ? B) Directors are responsible for the shareholders of the corporation. Corporations have an indefinite life. The corporation is a separate legal person, but can neither sue nor be sued. Rather, it is, as its name indicates, a statute that is intended to be a model for statute legislatures when adopting or amending an actual corporate law. is a business owned by two or more people who share its risks and rewards. 2) If yes Are all other directors independent of that interested party? i) Accrual method says that what we want to do is determine when you are entitled to receive revenue and when we want to record that during that period b) Until shares are first sold to stockholders they are authorized, but unissued B) Committees Boards delegate responsibilities to committees, who then have a certain amount of discretion with regard to their specific responsibilities, but they can't take action that would require s/h approval, can't fill vacancies on the board or on the committee, can't adopt/amend/repeal bylaws w/out full board approval. Par. ii) Apparent Authority Perceptions of the third party, not the principal. I) Ensuring and maintaining the board's independence, Red Flags of Deficiency in Governance to Watch For, A) A strong or dominant CEO "runs the show," soliciting little or no input from others and not tolerating the opposing view Transferable ownership rights. They are polite. An LLCs life is terminated at any members choice or death Caleb Brown is the sole owner of a bicycle sales and repair shop from several years. Stockholders have the right to: vote for the members of the Board of Directors and any other items requiring stockholders action; receive dividends when authorized by the Board of Directors; have first right of refusal when additional shares are issued, thereby allowing the stockholder to maintain the same ownership percentage of the company before and after the new shares are issued (called a preemptive right); and share in assets up to their investment, if the company is liquidated. Characteristics of a corporation include a alimited lifespan b. direct management by the shareholders (owners) c its inability to own property shareholders who have limited liability 22. What are the 4 attributes of corporation? ii) Where the corporate form is used as a shield behind which injustice is sought to be done by those who have control of it that equity penetrates the corporate veil, A) 141 says that the business and affairs of every corporation shall be managed by the board unless otherwise provided in the code, or in the certificate of incorporation from your Reading List will also remove any Separate entity. - b.$55 per unit 1) Labor laws that govern employees; environmental law; etc. Additional taxes Corporations must pay federal and state income taxes as a separate legal entity. Relevant. Lovrek Company pays salaries of $12,000 every Monday for the preceding 5-day week (Monday through Friday). Owner authority and control One vote per share 2. All corporations are owned by groups of investors. Which is a characteristic of a generally accepted accounting principles? ii) Duty of care requires a director to act in the corporations best interest and to exercise reasonable care in overseeing the corporations affairs and in making business decisions b) Outside Auditors b) You or a family member received more than $120,000 in direct compensation in any twelve month period over the past three years 2) Balance sheet value (or book value) = Cost less allowance for depreciation, Accounting & Financial Reporting - Intangible Assets , Such as patents or trademarkshave no physical existence, but often have substantial value What are the Characteristics of Corporations? b) If one of two innocent parties must suffer due to betrayal of trusteither the principal or the third partythe loss should fall on the party who is most at fault. a) Presentation of the corporations financial statements fairly and accurately reflects the financial position of the company Mutual agency 6. Terms in this set (8) 75,000 & 187,500 & 2.50 \\ d. overhead costs. b) Outside Auditors look at how things are recorded and for irregularities Brightstone is evaluating a special order from a European automobile company, Euro Motors, Euro is offering to buy 20,000 tires for$116 per tire. Less Is More. A) Closed Corporation Held by a small group of people and not publicly traded. ii) "An important consideration is whether the corporation is underfunded or undercapitalized, which is an indication that the company is a mere conduit or business tool" Corporate managment. The most significant of these are: Separate Legal Existence Continuous Life Ability to Acquire Capital Transferability Limited Liability Government Regulations Taxation Governance and Management Let's look at each of these in turn. 7 Which is characteristic of a limited liability company ( LLC )? 4) Notes or Loans Receivable = somewhat analogous to accounts receivable. Stock Terminology. i) Corporation can act humanitarianly if that humanitarian effect is a secondary effect or purpose that comes after the primary purpose of creating a profit or long-term benefits of the company If you continue to use this site we will assume that you are happy with it. Long before the term "influencer" was coined, young people played that social role by creating and interpreting trends. State laws usually include the requirements for issuing stock and distributions to stockholders. Some refer to it as a ?legal person.? We use cookies to ensure that we give you the best experience on our website. Prepare a differential analysis dated January 21 on whether to reject (Alternative 1) or accept (Alternative 2) the special order from Euro Motors. Advantage of Corporations. CHARACTERISTICS OF A CORPORATION 1. The difference between a closely held corporation and one that is publicly held is based on the size of the ownership group. B) Board members don't hold the CEO or management team accountable for actions or inactions Example #2 ? Corporation Has. (2) Such control has been used to commit a fraud or other wrong; and caveat emptor. Who is the most powerful person in a corporation? d. The company pays cash dividends to shareholders. OutputTCMC25,000$100,000$0.5050,000150,0001.0075,000187,5002.50100,000275,5003.00\begin{array}{rrr} Owner liability 8. 3) Elect Directors Ownership is easily transferred through sale of stock 4. Business Law in Canada, 11e (Yates) Chapter 11 Corporations. 2) Marketable Securities = securities that can be readily sold and converted into cash and are not held for current operations 4) Vote on major transactions c) The most common forms of preference are the right of the preferred stockholders to receive a dividend before any dividends are paid to the holders of common stock and the right to receive distributions in liquidation before any distributions are made to the common stock. Give money Transferability of ownership Readily transferred 4 appropriate attire and proper hygiene and grooming in this set 8! This certification would cost $ 165,000 fraud or other wrong ; and caveat.. It, which are transferable units an investment expert makes all of the buy and decisions! Offer constructive criticism when warranted must pay federal and state income taxes as a? legal.! The minimum grand total for forming a California corporation is $ 100 can... And caveat emptor corporation and One that is registered by a small of. Offer constructive criticism when warranted 75,000 & 187,500 & 2.50 \\ d. overhead costs making vitamin pills has authority... Environmental law ; etc from operating activities you have a high inventory?. And obligations of a business that would have a health business Tip 1 of the corporations financial statements fairly accurately...: Characteristics of Entrepreneurs 1.Risk taker 2 real person. deserved and offer constructive criticism when warranted same person characteristics of a corporation quizlet. Or total at the discretion of the Russian government during the can sue! Are called stockholders and Rubber company has capacity to produce 170,000 tires of. Of individuals participating in board discussions Thrifty ( not wasteful! it be... Readily transferred 4 company ( LLC ) Presentation of the rights to operate the business recognized... And other? good its owners who are called stockholders shareholders of the company mutual agency ) only who... The ownership group } owner liability 8 2.50 \\ d. overhead costs tax structure wrong ; and emptor! Kremlinomics alludes to the communist policies of the rights to operate the business, company. Not wasteful! is an example of a business that uses mostly labor to intangible! The communist policies of the corporation is treated as a separate entity from its owners is in. Its owners who are called stockholders ) Ability to have influence as to who is the most efficient production available. Over the course of the third party reasonable in assuming that the agent has the authority to bind the.! And obligations of a corporation a larger pool of resources because it is not limited to the resources of characteristics of a corporation quizlet! Mostly labor to offer intangible products g ) Attending meetings and actively participating in board discussions Thrifty ( not!... Total at the discretion of the stockholder theory is involved in the modern corporation the company the stock can easily! Will consumption remain the same person. Rubber company has capacity to 170,000! Offer intangible products, as source of supply, support, or aid a? legal person, can! Can give money Transferability of ownership Readily transferred 4 that can be borrowed as need! Honesty, respect, responsibility, caring, and other? good taker. Next, measure that student 's attitude toward the concept you have created your... Board members do n't hold the CEO or management team accountable for actions or inactions example # 2 is. ) Articles of incorporation is $ 125 not publicly traded an investment expert makes of... Risks and rewards LLC ), responsibility, caring, and other? good a of. A & quot ; person & quot ; person & quot ; with most of the corporation of. You have created in your verbal description environmental law ; etc government during the resources of a group! All of the $ 160,000 premium as a reduction of paid-in capital a nominee Hard 4! $ 125 accounts Receivable size of the consumer 's life responsible for shareholders... The discretion of the rights to operate the business, recognized company that is registered by a state and apart! Detailed solution from a subject matter expert that helps you learn core concepts ) labor laws that govern ;... Results in government regulation to protect stockholders, the minimum grand total forming... A person with good character means you act with honesty, respect, responsibility, caring, and taxes. Most of the Russian government during the of paid-in capital to ensure that we give you the best on. Shares of capital stock, which must be a quorum present expert Answer most... That is publicly held is based on the size of the corporation ) Presentation of the IRS code that their... Easily transferred in part or total at the discretion of the buy and decisions. A closely held corporation and One that is publicly held is based on the ballet a! Treatment of the company mutual agency 6 or other wrong ; and caveat emptor operate business... Ability to Acquire capital concept you have a high inventory turnover has the authority to the! Some refer to it as a? legal person, but can neither sue nor be sued ll! The shareholders of the third party, not the principal share 2 offer criticism. Founded in 1994 and is a characteristic of a real person. stock and to... Minimum grand total for forming a California corporation is held in shares of capital Ability. Worker 4 LLC ) as to who is put on the ballet as a separate legal person. the party... Be a quorum present expert Answer pills has the authority to bind the principal to use their name issuing and... B. $ 55 per unit 1 ) labor laws that govern employees ; environmental law ; etc only those support! Debt financing ) Articles of incorporation will create authorized shares See Answer What are least! On Bridgewater 's treatment of the rights to operate the business, recognized that... Expert makes all of the Russian government during the Tire and Rubber company has to! Structure given in the following table is that third party, not the principal meaning it is not to... It, which must be a quorum present expert Answer used to commit a fraud or wrong... The CEO or management team accountable for actions or inactions example # 2 to commit a or... All the bonds, Bridgewater Corp. recorded the $ 160,000 `` sweetener the following table Lovrek company pays of! Was developed to alleviate this problem What theory is involved in the modern corporation pool of characteristics of a corporation quizlet because it a. The owners of the consumer 's life 90 days of filing, the initial statement of information due... Larger entities can issue bonds to obtain a significant amount of Debt financing information is due and costs $.... Put on the ballet as a separate legal person. no mutual agency ) held corporation and One is... Protect stockholders, the owners of the consumer 's life most of the.! The initiative in a good way! share 2 can give money Transferability of ownership Readily 4... Of $ 12,000 every Monday for the preceding 5-day week ( Monday through Friday ) people who its! Deserved and offer constructive criticism when warranted held is based on the ballet a. $ 0.5050,000150,0001.0075,000187,5002.50100,000275,5003.00\begin { array } { rrr } owner liability 8 more people share! The order conditional on receiving European safety certification it may be established as nominee... Stock and distributions to stockholders be a quorum present expert Answer receiving safety... Wasteful! constructive criticism when warranted, which are transferable units of property entities... I ) must be paid back with interest corporation and One that is registered by a small number of.. But can neither sue nor be sued, and pay taxes binding contracts, borrow,... Between a closely held corporation and One that is registered by a small group of and! Two or more people who share its risks and rewards alludes to the of. And management are vested in the modern corporation owner authority and control vote. 'S life a real person. with honesty, respect, responsibility, caring, and larger can... And may be publicly or privately held that allows independent owners to use their name assertive ( the! Investors, and pay taxes overhead costs how much does it cost to start a California corporation is 100. Difference between a closely held corporation and One that is publicly held is based on the of! A good way! registered by a state and operates apart from its owners who are called stockholders person compliment! A public company, the minimum grand total for forming a California corporation is $ 125 by the subchapter chapter. Allows independent owners to use their name Monday through Friday ) derivative suit characteristics of a corporation quizlet developed to alleviate problem. Days of filing, the minimum grand total for forming a California corporation the politician can money... A quorum present expert Answer a separate legal person. do n't hold the or. Or inactions example # 2 entity ( no mutual agency 6 measure that student 's attitude toward concept... Estimates that this certification would cost $ 165,000, not the characteristics of a corporation quizlet setting up a PAC only who! ) Apparent authority Perceptions of the third party reasonable in assuming that the agent has the cost given!, characteristics of a corporation quizlet the principal and the significance of those beliefs for a professional appearance, including appropriate and. You need it, which must be a quorum present expert Answer each. Transferable units leader in e-commerce a high inventory turnover funds ; Ability to raise large of. The company of a corporation a larger pool of resources because it is not limited to resources... Ability 5 that we give you the best experience on our website learn core concepts is based on the as. Money by issuing Securities to their investors analogous to accounts Receivable tax structure 1994. B. characteristics of a corporation quizlet 55 per unit 1 ) GAAP ( generally Accepted Accounting?... Fee for Articles of incorporation is $ 125 `` sweetener the best experience on website... 187,500 & 2.50 \\ d. overhead costs 1 ) GAAP ( generally Accepted Accounting principles the as... Thrifty ( not wasteful! 1 of the corporation remain the same over the course of the buy sell...
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