True or False 1. Whether or not the contracts and transactions entered into by a corporation are binding will be decided on by its governing body 2. For convenience, professionals who practice their professions are allowed to create a corporation for their practice. 3. In non-stock corporations, voting rights do not have anything to do with membership unlike in stock corporations. 4. As a rule, a contract entered into by a corporation with one or more of its trustees or directors, members or stockholders or corporate officers is void.
True or False 1. Whether or not the contracts and transactions entered into by a corporation are binding will be decided on by its governing body 2. For convenience, professionals who practice their professions are allowed to create a corporation for their practice. 3. In non-stock corporations, voting rights do not have anything to do with membership unlike in stock corporations. 4. As a rule, a contract entered into by a corporation with one or more of its trustees or directors, members or stockholders or corporate officers is void.
Chapter11: The Corporate Income Tax
Section: Chapter Questions
Problem 14MCQ
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Question
True or False
1. Whether or not the contracts and transactions entered into by a corporation are binding will be decided on by its governing body
2. For convenience, professionals who practice their professions are allowed to create a corporation for their practice.
3. In non-stock corporations, voting rights do not have anything to do with membership unlike in stock corporations.
4. As a rule, a contract entered into by a corporation with one or more of its trustees or directors, members or stockholders or corporate officers is void.
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