Which of the following is not a key characteristic of a "C" corporation?

A "C" corporation is a type of business entity that is characterized by several distinct features, one of which is the principle of perpetual existence. This means that the corporation continues to exist independently of changes in ownership or the death of shareholders. Therefore, non-continuance of the organization in case of death is not a characteristic of a "C" corporation, making this the correct answer.

In contrast, limited liability is an essential attribute of a "C" corporation, where shareholders are typically only liable for the amount they have invested in the company. Ownership through shares is also a fundamental aspect, as "C" corporations issue stock that represents ownership in the company. Additionally, one of their key advantages is the ability to raise capital through stock sales, allowing for fundraising beyond personal contributions or loans. These features highlight why perpetual existence is a defining characteristic of a "C" corporation, as it assures continuity irrespective of individual changes among its owners.