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The corporation is responsible for the corporation's debt. Normally, there is a financial officer who pays the bills. If the corporation fails and goes bankrupt, people simply do not get paid. If the company is bankrupt and there is money, a judge appoints someone to pay according to a plan.
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What statement about corporations is not true?
their shareholders are responsible for the corporation's actions and debts Their shareholders are responsible for the corporation's actions and debts Their shareholders are responsible for the corporation's actions and debts kking kkilla Their shareholders are responsible for the corporation's actions and debts Their shareholders are responsible for the corporation's actions and debts Their shareholders are responsible for the corporation's actions and debts
Who is responsible for the debt of a corporation?
the corporation
Who is responsible for a corporation debt?
the corporation
Who is responsible for corporations debt?
the corporation
What are the powers and responsible of the top management of a corporation?
They represent the corporation to the state and federal governments
As an corporation, am I responsible or liable for depositing employment tax?
Yes, you are responsible for depositing employment tax. The liabilities for the tax are split between the corporation and the business owner
What is limited liability?
shareholders are not responsible for the debts of the corporation.
What is a hybrid corporation?
A corporation that is socially responsible as a benefactor to society while making a profit for its' owners & investors.
What is the entity that is responsible for establishing the allocation and cost of capital?
The corporation
Who are the people responsible for the management of the business in a corporation?
the CEO and the board
What is the advantage of a corporation?
A corporation has limited liability protection, and are typically not personally responsible for business debts. A corporation can live forever, even if an owner dies or sells interest, the corporation can still exist.
What is a de facto directorless corporation?
A de facto director is a person or committee that acts in place of a director in a corporation. The de facto director is legally responsible for the corporation.
