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A.
There is no limit on the number of owners a corporation may have, thus allowing the
corporation to raise substantial amounts of capital.
B.
The life of the business can continue beyond the death of any of the owners.
C.
The corporation can use the assets of the owners to pay for corporate liabilities. This attracts
smaller investors to the corporation.
D.
The liability of the owners is limited to the amount of their investment in the firm.
A.
Income to a corporation is subject to double taxation, once at the corporate level and
again when received by the owners in the form of a dividend.
B.
The life of the business usually ends with the death of any of the owners.
C.
The corporation is more complicated and more expensive to set up than other business
entities.
D.
Corporate liabilities can be passed on to the shareholders, thus making stock ownership primarily
the realm of wealthy investors.
What is the most important type of decision that the financial manager makes?
A.
The financial manager's most important job is to make the firm's financing decisions.
B.
The financial manager's most important job is to make the firm's payment decisions.
C.
The financial manager's most important job is to make the firm's investment decisions.
D.
The financial manager's most important job is to make the firm's dividend decisions.