An advantage of a corporation is that (1 point)

Question

Responses

owners pay fewer taxes than owners of other forms of business.
owners pay fewer taxes than owners of other forms of business.

the business is subject to little government intervention.
the business is subject to little government intervention.

owners have limited liability for debt.
owners have limited liability for debt.

owners have direct and immediate control over daily management of the business.

Answer 1

The correct response is:

owners have limited liability for debt.

This means that the owners (shareholders) are typically only liable for the debts of the corporation up to the amount they have invested in the company, protecting their personal assets from being used to pay off business debts.