Answer:
1. Owner authority and control - one vote per share, readily transferred
2 Ease of formation - requires government approval
3. Transferability of ownership - readily transferred
4. Ability to raise large amounts of capital - high ability
5. Duration of life - Unlimited
6. Owner liability - limited
7. Legal status - separate legal entity
8. Tax status of income - corporate income is taxed
Explanation:
A corporation is a business type :
1. Ownership of a corporation can be acquired by acquiring shares of the corporation.
2. A corporation requires government approval and a lot of legal requirements before it can be formed.
3. A corporation can raise capital through issuing shares, bonds and borrowing from financial institutions .
4. The liability of shareholders who are the owners are limited to the amount invested.
5. Corporate income is taxed and profit distributed to shareholders are also taxed.
6. A corporation is a separate legal entity.
7. The life of a corporation can be unlimited.
8. One share is equal to one voting right.
I hope my answer helps you
