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1)What is the most important difference between a corporation and all other organizational forms? 2

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1)What is the most important difference between a corporation and all other organizational forms?

2. What does the phrase limited liability mean in a corporate context?

3. Which organizational forms give their owners limited liability?

4. What are the main advantages and disadvantages of organizing a firm as a corporation?

5. Explain the difference between an S corporation and a C corporation.