D If a person is an owner of a corporation (shareholder) then they cannot be an employee of the same corporation. O True O False DHAR Which of the following is NOT true of a corporation as a business entity? O Transfer of ownership is simpler than other forms of business entities. O Owners of a corporation are not personally liable for debts of the business. O It is usually easier to get bank loans for a corporation than for a sole proprietorship. O none of the above (they are all true about corporations) D After a corporation has paid taxes on its profits, it can do which of the following? O Keep the profits in the business. O Pay out the profits as salary and bonuses to the employees O Pay out the profits, or a portion of them, to the shareholders as dividends. O All of the above D A professional corporation is one for which the shareholders must have some type of license in order to operate. O True O False Limited Liability Company, or LLC, is quickly replacing the limited partnership due to the advantage that it has with ease of being formed. O True O False
