ACC 291 Week 3 DQ 1
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This 0 page Study Guide was uploaded by an elite notetaker on Tuesday November 10, 2015. The Study Guide belongs to fin571 at Kaplan University taught by in Fall 2015. Since its upload, it has received 27 views.
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Date Created: 11/10/15
Week 3 DQ 1 Why does a company choose to form as a corporation What are the steps required to become a corporation What are the advantages and disadvantages of the corporate form of doing business A company might choose to form as a corporation because of owner protection from legal liability ability to attract investors corporate frameworkpower structure and stock and stock options for employees The usual steps required in becoming a corporation include haVing a name for your business preparing and filing the required paperwork with the Secretary of State in the state of incorporation paying the required filing fees choosing a board of directors and adopting corporate bylaws and authorizing the board of directors and officers of the company to conduct business and conduct other businessrelated activities As I mentioned previously some of the advantages of forming a corporation are owner protection from legal liability ability to attract investors the corporate frameworkpower structure and stock and stock options for employees Some disadvantages include the time and cost of incorporation following corporate formalities and potential tax liability ACC 291
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