Under United States laws, corporations are legal entities and do not exit separately from their shareholders.
Answer the following statement true (T) or false (F)
False
Under U.S. law, corporations are legal entities: in other words, they exist separately from their shareholders.
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When a partnership terminates business, the sale of noncash assets is called _____.
a. liquidation. b. realization. c. recognition. d. disposition.
The first step in undertaking a retail audit is _____
a. developing audit form(s) b. determining when and how often the audit is conducted c. determining who does the audit d. conducting the audit
What are successful techniques of controlling the cost of labor involved in service firms?
What will be an ideal response?
Olive borrows from Polo and Quennell, using the same collateral for both loans. Only Quennell has a perfected security interest. Olive defaults on both loans. The party with first rights to the collateral is
A. Olive. B. Polo and Quennell, in proportion to Olive's debt to each. C. Polo. D. Quennell.