Which of the following is true of a corporation?
A) It is an artificial being, existing only in contemplation of law.
B) Directors of a corporation as a group do not represent the corporation as agents.
C) Stockholders perform all the administrative functions of the corporation.
D) Stockholders directly control the day to day activities of a corporation.

Question

Quizplus · Accepted Answer

A corporation is considered an artificial legal entity that exists independently of its owners, created by law and recognized as having rights and responsibilities.

Which of the Following Is True of a Corporation