Asked by Marin Webster hannon on Apr 28, 2024
Verified
Which of the following is true?
A) Corporations account for about 82 percent of all business sales.
B) Corporations are controlled by the bondholders.
C) A key disadvantage of incorporating is that you will have to reorganize the corporation when one of the owners leaves the business.
D) There is about one business for every 100 people in the United States.
Corporations
Legal entities that are separate from their owners, allowing them to own assets, incur liabilities, and conduct business in their own name.
Business Sales
The total receipts a company generates from selling its goods or services over a specific period of time.
- Identify the differences between corporate entities, partnerships, and sole proprietorship models, including their specific traits.
Verified Answer
KS
Kaylie SorensenApr 29, 2024
Final Answer :
A
Explanation :
According to the U.S. Census Bureau, corporations account for about 82 percent of all business sales.
Answer: None of the other options are true
B is incorrect because corporations are typically controlled by the shareholders, not the bondholders. C is incorrect because corporations have continuity of existence, meaning they do not need to be reorganized if one owner leaves. D is incorrect because there are far more than one business for every 100 people in the United States - in fact, as of 2021, there were approximately 31.7 million small businesses in the U.S. alone.
Answer: None of the other options are true
B is incorrect because corporations are typically controlled by the shareholders, not the bondholders. C is incorrect because corporations have continuity of existence, meaning they do not need to be reorganized if one owner leaves. D is incorrect because there are far more than one business for every 100 people in the United States - in fact, as of 2021, there were approximately 31.7 million small businesses in the U.S. alone.
Learning Objectives
- Identify the differences between corporate entities, partnerships, and sole proprietorship models, including their specific traits.