ANS: B DIF: Easy OBJ: 13-01 NAT: AACSB Analytic | AICPA BB-Industry 7. Which one of the following would not be considered an advantage of the

ANS: B DIF: Easy OBJ: 13-01 NAT: AACSB Analytic | AICPA BB-Industry 7. Which one of the following would not be considered an advantage of the corporate form of organization? A. Government regulation b. Separate legal existence c. Continuous life d. Limited liability of stockholders ANS: A DIF: Easy OBJ: 13-01 NAT: AACSB Analytic | AICPA BB-Legal 8. Which of the following is not true of a corporation? A. It may enter into binding legal contracts in its own name. B. It may sue and be sued. C. The acts of its owners bind the corporation. D. It may buy, own, and sell property.