Author Question: Which of the following statements is a defining feature of a corporation? a. The owners of a ... (Read 72 times)

rl · **on:** Jun 30, 2018

Which of the following statements is a defining feature of a corporation?
a. The owners of a corporation face unlimited liability on debts.
b. A corporation owns and operates units only in foreign countries.
c. A corporation is created by a verbal agreement.
d. A corporation that is based on a verbal agreement is also recognized by State law.
e. A corporation has a legal identity that is separate from that of its owners.

Question 2

A production possibilities curve that is linear (a straight line):
a. illustrates a tradeoff in which opportunity cost of a good increases with the level of its production.
b. illustrates a tradeoff in which the opportunity cost of a good decreases with the level of its production.
c. illustrates a tradeoff in which the opportunity cost of a good is constant at all levels of production.
d. demonstrates the fallacy of composition.