the growth of business led to the development of a new type of business organization called the corporation…

the growth of business led to the development of a new type of business organization called the corporation. which of the following was a characteristic of a corporation?\neach of the companys stockholders was legally responsible if the company went bankrupt.\nonly the owner of the company was legally responsible if the company went bankrupt.\nnone of the companys stockholders was legally responsible if the company went bankrupt.\nthe federal government was legally responsible if the company went bankrupt.

the growth of business led to the development of a new type of business organization called the corporation. which of the following was a characteristic of a corporation?\neach of the companys stockholders was legally responsible if the company went bankrupt.\nonly the owner of the company was legally responsible if the company went bankrupt.\nnone of the companys stockholders was legally responsible if the company went bankrupt.\nthe federal government was legally responsible if the company went bankrupt.

Answer

Brief Explanations:

In a corporation, stockholders have limited liability. This means their personal assets are generally not at - risk if the corporation goes bankrupt. They are not individually legally responsible for the corporation's debts beyond their investment in the stock.

Answer:

None of the company's stockholders was legally responsible if the company went bankrupt.