Types of Corporations and Their Structures
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Questions and Answers

What is one of the chief advantages of forming a corporation?

  • Unlimited liability
  • Automatic profit sharing
  • Limited liability (correct)
  • No need for a board of directors

    • Who owns a corporation?

  • Its stockholders (or shareholders) (correct)
  • The CEO
  • The government
  • Its employees

    • What does double taxation mean for corporations?

  • Taxing profits twice
  • A tax for international corporations
  • Taxing profits and salaries
  • Taxing profits, then dividends (correct)

    • What business model prioritizes shared ownership and democratic decision-making?

    <p>Cooperative (coop)</p> Signup and view all the answers

    In which business entity do shareholders have limited liability for the company's debts?

    <p>C Corporation</p> Signup and view all the answers

    Which form of business organization involves equitable growth across sectors?

    <p>Cooperatives (coops)</p> Signup and view all the answers

    What role do cooperatives play in the global business landscape?

    <p>Enhancing corporate restructuring</p> Signup and view all the answers

    Which specialized business entity offers tax benefits to its members?

    <p>(Cooperative) Coop</p> Signup and view all the answers

    What is the significance of partnerships and mergers for cooperatives?

    <p>Promoting corporate expansion</p> Signup and view all the answers

    What key aspect of cooperatives underscores their importance in the business landscape?

    <p>Fostering inclusivity and democratic decision-making</p> Signup and view all the answers

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