Jill invests $1,000 to buy ten shares of Good Corporation. The corporation goes bankrupt having
no assets and $1 million in liabilities. The most Jill can lose is the $1,000 she invested. This is an
example of the corporate characteristic of:
A) Limited liability.
B) Centralized management.
C) Double taxation.
D) Free transferability of shares.
E) Perpetual existence.
A
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Answer the following statement true (T) or false (F)
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