This preview shows page 1. Sign up to view the full content.
Unformatted text preview: charter that has to be approved the corporation has to set its by-laws and also get a license from each state in which they do business. The advantages of the corporate form of doing business are separate legal existence, limited liability of stockholders, transferable ownership rights, ability to acquire capital, continuous life, and corporation managementprofessional managers. The disadvantages of the corporate form of doing business are corporation managementseparation of ownership and management, government regulations, and additional taxes....
View Full Document
- Spring '09
- Financial Accounting