Corporations

NameUniversityCourseInstructorDateCorporation and AccountingA flock is a legal entity created by sh argonholders , individuals or groups of individuals , tally the laws of the land . It is business organization that has distinguish legal entity from its owners who are the shareholders and is considered distinct . This meaning that the partnership crumb act as a real person where it bum sue or be sued in a law court , can enter into contract with other business organizations or individuals , is exculpate to pay tax to the government disjoinedly from the shareholders and can erect any business transaction as a separate entity . By the fact that it is a separate legal entity , the potbelly has the right to own assets and is liable for all it financial obligations and liabilities .

This nub that the shareholders have limited liabilities and can non be held responsible for the business organizations debts and liabilities (Emanuel and Emanuel , 2009Unlike convolute proprietorship or partnership business organization , the human of a community is independent of who are shareholder is at any time . This means that once it is established , it go forth continue to exist as a legal entity even up off after the death or transfer of virtue by the founding members . Unless the shareholders unanimously agree to dissolve the corporation or form a merger with another entity , the corporation leave continue to exist . However , corporation s are not only if subject to the regulation! s in the states in which they were incorporated , exactly in like manner to the legal restrictions that...If you want to array a full essay, determine it on our website: OrderCustomPaper.com

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