Ready to test your Knowledge?
Try out our new practice tests completely free!
exam preparation banner icon

Legal Environment of Business

Business

Quiz 17 :

Law and Business Associations

Quiz 17 :

Law and Business Associations

search
arrow
Which of the following is true of a corporation?
Free
Multiple Choice
Answer:

Answer:

C

arrow
A corporation whose stock is not traded on the national securities exchanges but is held by a small group of people is a ________ corporation.
Free
Multiple Choice
Answer:

Answer:

D

arrow
Which of the following statements is true when creating a corporation in the U.S.?
Free
Multiple Choice
Answer:

Answer:

A

arrow
Nonprofit corporations are also called ________.
Multiple Choice
Answer:
arrow
Which of the following statements is true of closely held corporations?
Multiple Choice
Answer:
arrow
A corporation formed in one country but doing business in the United States is referred to in the United States as a(n) ________ corporation.
Multiple Choice
Answer:
arrow
The capital that a corporation raises through the sale of shares that entitle the shareholders to certain rights of ownership is known as ________.
Multiple Choice
Answer:
arrow
Wheelz Enterprises, a car manufacturer, is a closely held corporation. Profits are taxed to the owners as ordinary income but not to the corporation as a unit. The owners have mutually agreed that their total number will never exceed 35 and that none of the shareholders can be a non-resident alien. In this scenario, Wheelz is an example of a(n) ________ corporation.
Multiple Choice
Answer:
arrow
Trayon Industries is a public corporation established in California in 1987. It decides to expand its base of operations and starts operating in the state of Nevada, too. In Nevada, Trayon will be known as a(n) ________ corporation.
Multiple Choice
Answer:
arrow
To qualify for Subchapter S treatment under the Internal Revenue Code, a domestic corporation must have ________.
Multiple Choice
Answer:
arrow
An unsecured long-term corporate loan is called a ________.
Multiple Choice
Answer:
arrow
Which of the following is a characteristic of a professional corporation?
Multiple Choice
Answer:
arrow
Which of the following statements is true of a Subchapter S corporation?
Multiple Choice
Answer:
arrow
Which of the following is true of nonprofit corporations?
Multiple Choice
Answer:
arrow
A long-term corporate loan secured by a lien on corporate assets is called a ________.
Multiple Choice
Answer:
arrow
Which of the following usually occurs at a corporation's first board meeting?
Multiple Choice
Answer:
arrow
A corporation whose stock is traded on at least one national securities exchange is known as a(n) ________ corporation.
Multiple Choice
Answer:
arrow
Which court is considered the most influential court in the U.S. with regard to corporate governance and the chief arbiter of conflicts between corporations?
Multiple Choice
Answer:
arrow
Which of the following statements is true of a multinational corporation?
Multiple Choice
Answer:
arrow
Which of the following best defines a corporation?
Multiple Choice
Answer:
Showing 1 - 20 of 77