growing from partnership to corporation\nscenario: after a year of selling hats and handbags through an…

growing from partnership to corporation\nscenario: after a year of selling hats and handbags through an online store, janet and jose need to expand their business. although their partnership has been successful, they believe it is time to bring other owners and shareholders into the picture. they decide to start a corporation.\nuse the drop - down menus to complete the statements.\nto begin their corporation, they must first register with the state.\nnow that their business has become a separate legal entity, janet and jose are for the companys debts.\nas a corporation, they no longer responsible\nnow responsible\nable to eliminate

growing from partnership to corporation\nscenario: after a year of selling hats and handbags through an online store, janet and jose need to expand their business. although their partnership has been successful, they believe it is time to bring other owners and shareholders into the picture. they decide to start a corporation.\nuse the drop - down menus to complete the statements.\nto begin their corporation, they must first register with the state.\nnow that their business has become a separate legal entity, janet and jose are for the companys debts.\nas a corporation, they no longer responsible\nnow responsible\nable to eliminate

Answer

Brief Explanations:

In a corporation, once it is formed as a separate legal entity, the owners (shareholders like Janet and Jose) have limited liability. This means they are not personally liable for the company's debts.

Answer:

no longer responsible