Which of the following is true with regard to the characteristics of corporations?
A) The corporation is a separate legal person, but neither can sue nor be sued.
B) Directors are responsible for the shareholders of the corporation.
C) Shareholders, are liable for the debts and other obligations of the corporation.
D) A shareholder's liability is limited to the amount he or she paid for the shares.
E) The shareholders would be vicariously liable for any damage caused by a employee of the corporation carrying out his or her duties.
Correct Answer:
Verified
Q3: Which of the following is an advantage
Q12: In jurisdictions in which the registration system
Q13: Four years ago,Ben Ratzi incorporated a corporation
Q15: Which one of the following is an
Q19: Smith,Jones,and Brown incorporated XYZ Ltd.The three were
Q20: Which of the following is a fiduciary
Q21: In jurisdictions where the registration system of
Q22: Jed Wimsey,in auditing the books of various
Q25: Which of the following statements about pre-incorporation
Q37: John and two friends incorporated a closely
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents