Answer:
1. Control and authority of owners - one vote corresponding to each share, easily transferable
2. Simplicity of establishment - necessitates government authorization
3. Ownership transferability - can be transferred without difficulty
4. Capacity to attract substantial capital - significant capability
5. Lifespan - Indefinite
6. Owners' liability - restricted
7. Status under law - recognized as a distinct legal entity
8. Tax implications for earnings - corporate earnings face taxation
Explanation:
A corporation represents a type of business:
1. To own a corporation, one must purchase its shares.
2. Establishing a corporation involves obtaining government sanctions and fulfilling numerous legal criteria.
3. Corporations can accumulate funds by selling shares, issuing bonds, and borrowing from banks and other financial institutions.
4. Shareholders' liability is confined to their invested capital.
5. Corporate earnings are subject to taxation, and distributions to shareholders also incur taxes.
6. A corporation exists as a legally separate entity.
7. A corporation can exist indefinitely.
8. Each share grants one vote.
I hope my response is beneficial to you
