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 management—professional managers. The disadvantages of the corporate form of doing business are corporation management—separation of ownership and management, government regulations, and additional taxes....
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This note was uploaded on 03/28/2011 for the course ACCT 349 taught by Professor Goyal during the Spring '09 term at University of Phoenix.
- Spring '09
- Financial Accounting