Discuss the four attributes of a corporation. (Answer in not more than 3 sentences)
Question
Discuss the four attributes of a corporation. (Answer in not more than 3 sentences)
Solution
A corporation is characterized by four key attributes: limited liability, which protects shareholders from personal liability for corporate debts; perpetual existence, meaning the corporation continues to exist even if shareholders change; easy transferability of shares, allowing shareholders to sell their shares to others; and centralized management, where decision-making is handled by a board of directors and executive officers.
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