board of directors

shareholders

chief executive officer (CEO)

chairperson of the Board of Directors

Corporations are separate taxable entities.

Lenders of a corporation do not have the

right to claim the corporation's assets to satisfy their obligations.

Corporations are subjected to less governmental

regulation than other forms of businesses.

Each stockholder has the authority to commit the

corporation to a binding contract through his/her actions.

Reliability and Fairness

Consistency and Prudence

Faithful representation and Relevance

Comparability and Understandability