Identify which of the following statements are true for the corporate form of organization... 1. Owners have limited liability for corporate debts

2. Stockholders do not have the power to bind the corporation to contracts.

3. It has many of the same rights as an individual.

4. It does not end with the death of an owner.

5. Generally there is no double taxation on corporate income that is distributed to owners.

6. Corporations are often subject to fewer regulations than partnerships.

7. The president and vice presidents choose the board of directors.