Which term describes the owners of a corporation? O Directors O The State O Offi

Question

Which term describes the owners of a corporation? O Directors O The State O Officers O Affiliates QUESTION 38 Yolanda is a shareholder in a corporation which is sued. Which of the following is true of Yolanda's potential O Yolanda may be liable for the corporation's actions if she was on the corporate board 0 Yolanda may be liable for the corporations' actions if the corporation is a C O Yolanda's liability is limited to her investment in the corporation O Yolanda may be liable for the corporation's actions if the corporation is an S-corp but not a C-corp O Yolanda is fully liable for the corporation's actions liability? -corp but not an S-corp QUESTION 39 is the term for the activity of completing unfinished partnership business, collecting and paying debts, collecting partnership assets, and taking inventory. O Terminating O Delineating Winding up o Closing up O Reallocating QUESTION 40 means the change in the relation of the partners caused by any partner's ceasing to be associated with the carrying on of the business O Suspension - Resignation

Explanation / Answer

Which term describes the owners of the corporation

Shareholders

Explanation - shareholders hold separate part of the organisation and can be described as owners.

Yolanda is a shareholder in a corporation which is sued. Which of the following is true of yolanda's potential liability.

Yolanda's liability is limited to her investment in the Corporation.

__ is the term for activity of completing unfinished partnership businesses, collecting and paying debts, collecting partnership assets, and taking inventory.

Reallocating

____ means the change in the relation of the partners caused by any partners ceasing to be associated with the carrying on

Dissolution

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