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Exam (elaborations)
Coporate_Finance_Answers_to_Problem_Set
Concepts Review and Critical Thinking Questions 
2. Disadvantages: unlimited liability, limited life, difficulty in transferring ownership, hard to raise 
capital funds. Some advantages: simpler, less regulation, the owners are also the managers, 
sometimes personal tax rates are better than corporate tax rates. 
3. The primary disadvantage of the corporate form is the double taxation to shareholders of distributed 
earnings and dividends. Some advantages include: limited liability, ease of t...