Of the following statements, which are true for the corporate form of organization? (you may select more than one answer. single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.) directors oversee its business affairs. unchecked ownership is usually transferred readily. unchecked stockholders do not have the power to bind the corporation to contracts. unchecked it has a continuous life. unchecked generally there is no double taxation on corporate income that is distributed to owners. unchecked it is not a separate legal entity from its owners. unchecked owners are liable for debt and the acts of the corporation.

Statements are:

Ownership is usually transferred readily.  = False as it is generally permanent.Stockholders do not have the power to bind the corporation to contracts.  = True as this power for daily business lies with directors.It has a continuous life. = True as said people may come people may go but a company goes on forever.Generally there is no double taxation on corporate income that is distributed to owners. = False as income in hands of shareholders is taxed twice generally.It is not a separate legal entity from its owners. = False as the owners are always different then that of entity they posses a separate legal identity.Owners are liable for debt and the acts of the corporation. = False as the owners of corporation has limited liability they are not completely responsible for debts and acts of company there is separate legal identity.

This sentence is false.