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The three levels of a corporation typically include the strategic level, the tactical level, and the operational level. The strategic level involves top management making long-term decisions and setting overall direction for the organization. The tactical level focuses on middle management, which develops plans and initiatives to achieve the strategies set by top management. Finally, the operational level consists of frontline employees and supervisors who execute day-to-day tasks and activities to maintain the organization's functions.

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2mo ago

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What are the three types of business entities and how do they differ?

The three types of business entities are a sole proprietorship, a partnership, and a corporation. A sole proprietorship is owned by one person, a partnership is owned by two or more people, and a corporation is a business entity separate from its owners.


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When forming a corporation, the three main documents that must be completed are the Articles of Incorporation, which outline the corporation's purpose and structure; the Bylaws, which establish the internal rules governing the corporation's operations; and the Initial Report or Statement of Information, which provides essential details about the corporation's directors, officers, and registered agent. These documents are crucial for legal recognition and compliance with state regulations. Additionally, obtaining an Employer Identification Number (EIN) from the IRS is often necessary for tax purposes.


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To determine if your corporation is an S corporation or a C corporation, you need to check with the IRS. S corporations have specific eligibility requirements and must file Form 2553 to elect S corporation status. C corporations are the default classification for corporations that do not elect S corporation status.


Who is responsible for a corporation debt?

the corporation


Who is responsible for the debt of a corporation?

the corporation