What are the main advantages and disadvantages of organizing a firm as a C corporation? The advantages are: (Select all the choices that apply.) A. There is no limit on the number of owners a C corporation may have, thus allowing the corporation to raise substantial amounts of capital. B. The life of the business can continue beyond the death of any of the owners. C. The corporation can use the assets of the owners to pay for corporate liabilities. This attracts smaller investors to the corporation. D. The liability of the owners is limited to the amount of their investment in the firm.

The answer is given below (Option A, B and D).

Explanation:

The advantages of a Corporation are:

(a) There is no limit on the number of owners a C Corporation may have, thus allowing the corporation to raise substantial amounts of capital.

(b) The life of business can continue beyond the death of any of the owners.

(d) The liability of owners is limited to the amount of their investment in the firm.

For a corporation, when the owners die, the business can continue to function and meet the needs of the people through the good or the service that is rendered. Also, the asset if the owners cannot be dragged in settling of debts because the owners are only liable for capital invested and not any other thing.

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