Sophia Pathways Accounting

1 Which of the following is a major advantage to forming a corporation? • Lenders of a corporation do not have the right to claim the corporation's assets to pay its debts. • The income from a corporation is not taxed. • Stockholders have limited liability for the debts of the corporation. • A corporation is usually managed by its owners. CONCEPT Businesses and Organizations 2 Which of the principles below does Val follow when she reviews her records to make sure th...

1 Which of the following is a major advantage to forming a corporation? • Lenders of a corporation do not have the right to claim the corporation's assets to pay its debts. • The income from a corporation is not taxed. • Stockholders have limited liability for the debts of the corporation. • A corporation is usually managed by its owners. CONCEPT Businesses and Organizations 2 Which of the principles below does Val follow when she reviews her records to make sure th...