Which of the following is not a characteristic of a corporat

Which of the following is not a characteristic of a corporation? Corporations can raise large amounts of capital by issuing stock Ownership is divided into shares of stock Corporations are organized as a separate legal taxable entity O A corporation can elect to be taxed as a partnership

Solution

Answers to the above questions in order...

1. A corporation can elect to be taxed as a partnership.

2. Periodicity Concept

3. Cost Principle

4. Net Income $15,000