Which of the following statements is true about corporations? They can't sue or be sued...

90.2K

Verified Solution

Question

Accounting

Which of the following statements is true about corporations?
They can't sue or be sued in court.
They account for the majority of all U.S. sales and income.
Many smaller firms typically elect to incorporate as C corporations.
They can't enter into contracts with individuals.
Only mega-companies can incorporate.
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students