What are the principal attributes of a corporation?
The principal attributes of a corporation are as follows:
1. It is a legal entity.
2. It owes its existence to a state, which also regulates it.
3. It provides limited liability to its shareholders.
4. Its shares of stock are freely transferable.
5. Its existence may be perpetual.
6. Its management is centralized.
7. For some purposes, it is considered a person; and
8. For some purposes, it is considered a citizen.
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Why is it important for entrepreneurs to manage the negative emotions associated with failure?
a. so they can begin the process of learning from failure b. so they can avoid all the consequences of failure c. so they can understand the external reasons for their failure d. so they can blame others for their failure
Lana agrees to work as Michelle's personal assistant for one year but dies in the ninth month of the contract. Lana's estate A) is discharged from any contractual liability
B) must find a competent assistant to fulfill the contract. C) must pay damages. D) must refund any money paid to Lana on the contract.
When The Endangered Species Act prohibits use of land to protect an endangered species: A)?There is a taking that entitles the owner to compensation
B)?The owner has a constitutional challenge. C)?There must be judicial approval. D)?None of the above
Creativity is most likely to occur when the "climate" is right. Which of the following is a characteristic of that climate in the workplace?
a. willingness to avoid change b. employees with similar work habits c. trustful management that does not exert strict control over employees d. strict management rules