8 Questions
What is a key characteristic of a corporation according to the text?
Limited liability
In a corporation, shareholders have the right to:
Vote for the board of directors
What entity is considered an individual according to the law?
Corporation
Which legal business structure mentioned in the text allows one person to form a corporation?
One person corporation
How many individuals are required to form a traditional corporation as per the text?
5
What percentage of taxable income are partnerships (excluding general professional partnerships) subject to, based on R.A. NO. 9337?
30%
What aspect separates the legal structure of a corporation from its owners?
Limited liability
What entity has its rights and liabilities separate from the owners?
Corporation
Learn about important attributes of corporations such as limited liability and unlimited life according to company law. Understand how these features impact the functioning and longevity of a corporation.
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