Because corporations are chartered either with perpetual life or with provision for renewal if the charter specifies a limit, irrespective of the deaths of any stockholders or disposal of their stock, corporations are said to have the characteristic of
a. limited liability of owners.
b. transferable ownership units.
c. taxation of corporate earnings.
d. unlimited life.
d
You might also like to view...
In managing virtual workers, a manager should
A. give directions only by phone or in person. B. make sure the worker is keeping to a fixed schedule of hours. C. let employees work using their own expectations of how to do their jobs. D. meet regularly, face to face. E. initiate change quickly.
Describe the factors that constitute the fraud triangle. Why is it important to auditors?
The amendments to the U.S. Constitution protect the people from the power of state and federal governments
a. True b. False Indicate whether the statement is true or false
Wendell, new to the area, selects a doctor from the telephone book and visits that doctor to have a splinter extracted. Unbeknownst to Wendell, the doctor has never passed the state licensing exams. Later, when Wendell discovers the truth, he refuses to pay his bill. If the doctor sues for recovery of the fee, will the court support the doctor's claim?
a. Yes, it was up to Wendell to verify the doctor's qualifications prior to having the splinter extracted. b. No, the court is likely to take the position that it is not in the public's best interest to enforce contracts with unlicensed doctors. c. It depends on whether Wendell's injury healed properly. d. Yes, it is unconscionable that Wendell would not pay a bill he owed.