What can u say about corporations
Answer (1)
Corporations are legal entities that are separate from their owners. They can own assets, incur liabilities, sue or be sued, and enter into contracts. Typically, corporations are created to conduct business and can be for-profit or nonprofit. One major advantage of a corporation is limited liability—owners (shareholders) are usually not personally responsible for the company’s debts. Corporations also have a more complex structure and are subject to more regulations than other business forms like sole proprietorships or partnerships.
