The law governing the formation and operation of corporations is all at the state level.
Correct Answer:
Verified
Q12: A corporation can sue or be sued
Q15: The Revised Model Business Corporation Act is
Q16: Most corporations are private.
Q17: Shareholders have unlimited liability that can exceed
Q18: Park districts may be formed as corporations.
Q20: Shareholders that are involved in the management
Q22: Corporations generally become bound to promoters' contracts
Q23: A corporation can be formed for "any
Q24: The liquidation preference of preferred stock means
Q52: The articles of incorporation must be approved
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