All of the following are characteristics of a corporation, except: has one or more owners, and called partners is considered a separate legal entity OA. O B. OC. It has an indefinite life D. the owners are not liable for corporation's debts
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A: The answer for the multiple choice question and relevant explanation are presented hereunder :
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A: Hi student Since there are multiple questions, we will answer only first question.
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Q: Owners of a corporation are called members. O True O False
A: The answer is false Refer step 2 for explanation
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A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
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A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
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A: Sole proprietorships is the simplest form of business in which one particular operates the business…
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A: The answer is TRUE
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A: Partnership means where two or more person comes together to do some common business activity and…
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A: The distinction between a corporation and a partnership in terms of owner, legal status, liability,…
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A: Consolidated basis is a consolidated tax return which combines the tax liability of all includible…
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A: Corporation has separate legal entity. This means the corporation is separate from its owners. Thus,…
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A: Will Be Explained:
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A: Corporations Partnership Firms Individuals LLP
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A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
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A: The answer for the multiple choice question and relevant explanation are presented hereunder : A…
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A: Hi student Since there are multiple subparts, we will answer only first three sub parts.
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A:
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Q: If a corporation merges, what company's articles of incorporation and bylaws will be used?
A: Merger takes place when two or more firms or corporation join hands together to run a common…
Q: the advantage of a corporation from a partnership is
A: Answer: e. All of the above
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- QUESTION 10 Which of the following is an organizational disadvantage of a corporation? A. Taxable entity B. Separate legal entity C. Relative ease of ownership transfer D. Limited liability of owners10. As a legal entity, a corporation can perform the following functions EXCEPT: A. voteB. borrow money, lend money, sue and be sued, and vote.C. borrow money and lend money.D. borrow money, lend money, and sue and be sued. 13. A corporation, potentially, has infinite life because it A. has the same ownership and management.B. is a legal entity.C. is closely regulated.D. has limited liability.1. Limited Partners are involved in the day-to-day management of thebusiness. T/F 2. A Corporation can continue in existence if the owner leaves thecompany. T/F
- Topic: Introduction to Corporation True or False1. A corporation can be a general partner in a partnership.2. The board of directors shall exercise the corporate powers of a corporation.3. A public corporation is one formed for the government of a portion of the state.4. All incorporators are subscribers, but a subscriber need not be an incorporator.5. A partnership can be a corporator in a corporation.6. A corporation can come into existence by mere agreement of the partnership as in the case ofpartnerships.7. A corporation can be held liable for personal indebtedness of a shareholder.8. Shareholders may be natural or juridical persons.9. The board of directors is responsible for the formulation and implementation of the overallpolicies for the corporation.10. Eleemosynary corporations are those organized for public charity.11. A corporation is an artificial being with personality separate and apart from its individualshareholders or members.12. A corporation has continuity of…NOTE: ANSWER ALL WITH TRUE OR FALSE 2. A corporation can be general partner in a partnership.3. A public corporation is one formed for the government of a portion f the state. 4. All incorporators are subscribers but a subscriber need not be an incorporators.5. A partnership can be corporator in a corporation.6. A shareholder in a corporation does not have the right to transact corporate businessor to intervene in the management of the business.7. A corporation can come into existence by mere agreement of the parties as in the caseof partnerships.8. Eleemosynary corporations are those organized for public charity.9. Shares of stock cannot be transferred without the consent of the other shareholders.10. Shareholders may be natural or juridical persons.11. Death of s shareholder will dissolve the corporation.12. A de jure corporation is a corporation existing in fact and in law.13. Shares without par may be issued for a consideration less than P5.00 per share.14. A corporation may be an…6. Which of the following is an advantage of forming a corporation? Question 6 options: Easy to maintain. Zero liability. Increased access to resources No taxes. Previous PageNext Page
- Chapter 11 - Question 3: (a) Contrast the federal income taxation of a corporation with that of a sole proprietorship and a partnership. (b) Which of the three types of organizations must file a federal income tax return?Subject: Law on Partnership and Corporations 1. Distinguish between articles of incorporation and by-laws 2. What are the similarities between Corporation and Partnership. 3. What are some of the causes of vacancy in the office of director or trustee? How can the vacancy be filled up? 4. Discuss briefly the kinds of powers that a corporation can exercise. 5. What is an Ultra Vires act? How is it different from an illegal act? ExplainC:8-29 Affiliated Group Definition. In each of the following cases, determine the corporations that comprise an affiliated group. All corporations are includible corporations and have one class of stock unless otherwise indicated. a. P Corporation owns all the stock of S and T Corporations. T owns all of U Corporation’s stock. T and U are Belgian corporations. b. Assume the same facts as in Part a except U is a domestic corporation. c. Omar, an individual, owns 100% of P Corporation’s stock and 30% of S Corporation’s stock. P owns 70% of S’s stock. d. G is a German corporation. G owns all of P Corporation’s stock. P owns all of S Corporation’s stock. e. P Corporation owns all of S Corporation’s stock. P and S each own 50% of T, a domes-tic limited liability company.
- S1 A partnership is allowed to become a shareholder of a corporation. S2 A shareholder is allowed to become a partner of a partnership. a. Both statements are true b. Both statements are false c. One statement is true, and the other one is false S1 A corporation’s by-laws are the same as its articles of incorporation. S2 The share certificate is issued upon subscription of the share capital. a. Both statements are true b. Both statements are false c. One statement is true, and the other one is falseWhich of the following characteristics of a corporation limits a stockholder's loss to the amount of his or her investment in the stock of the corporation? Question 7Answer a. Separate legal entity b. Separation of ownership and management c. Transferability of ownership d. Limited liability1.Which of the following is NOT one of the basic shareholder's rights? Which of the following is NOT one of the basic shareholder's rights? The right to participate in the proceeds of the sale of the corporation upon liguidation. The right to inspect the records of the corporation The right to maintain one's proportional interest in the corporation. The right to participate in earnings 2.