Problem: Answer the following questions about corporations. 1. There are three groups of people involved in organizing and running a corporation; the board of directors, shareholders and officers. For each of the three groups explain what their major responsibilities (at least two for each) are. 2. Corporations raise money for their operations by selling debt and equity securities. What are the differences between the two types? Give two specific examples of debt securities and two examples of equity securities. 3. How does a corporation pay taxes? What is meant by the term double taxation?