What is the major difference between a corporation and other kinds of businesses?
A. A corporation is much larger than other kinds of businesses.
B. A corporation is not responsible for its debts if it fails.
C. A corporation has a separate entity apart from that of the owners and workers.
D. A corporation has officers who are responsible for the business.
A. A corporation is much larger than other kinds of businesses.
B. A corporation is not responsible for its debts if it fails.
C. A corporation has a separate entity apart from that of the owners and workers.
D. A corporation has officers who are responsible for the business.
Related textbook solutions
Related questions
QUESTION 8
Title VII of the Civil Rights Act prevents discrimination in:
| a. | hiring. | |
| b. | demotion. | |
| c. | fringe benefits. | |
| d. | All of the above are covered by the Civil Rights Act. |
3.572 points
QUESTION 9
Which of the following is not a method for forming a partnership?
| a. | by transfer | |
| b. | by estoppel | |
| c. | by implication | |
| d. | by agreement |
3.572 points
QUESTION 10
Which of the following job interview questions would be a violation of Title VII?
| a. | Why did you leave your previous employment? | |
| b. | Do you have reliable child-care arrangements? | |
| c. | Would you be able to travel two days per week? | |
| d. | None of the above is a violation. |
3.572 points
QUESTION 11
In which of the following forms of doing business does the death of one of the owners cause dissolution?
| a. | nonprofit corporation | |
| b. | closely-held corporation | |
| c. | partnership | |
| d. | S Corporation | |
| e. | C Corporation |
3.572 points
QUESTION 12
The Family and Medical Leave Act:
| a. | applies to companies with 20 or more employees. | |
| b. | requires applicable companies to provide 12 weeks of unpaid leave for family medical reasons. | |
| c. | allows an employee to take time off to care for a spouse, child, parent or parent-in-law. | |
| d. | All of the above are true for the FMLA. |
3.572 points
QUESTION 13
Dissolution:
| a. | is the same as termination. | |
| b. | can result from a limited partner leaving the partnership. | |
| c. | can result from the death of a partner. | |
| d. | all of the above |
3.572 points
QUESTION 14
A partnership is a:
| a. | tax reporting entity. | |
| b. | tax reporting and tax paying entity. | |
| c. | tax paying entity. | |
| d. | neither a tax reporting nor a tax paying entity. |
3.572 points
QUESTION 15
A Subchapter S or S Corporation is:
| a. | a special class of close corporation under the MBCA. | |
| b. | an IRS tax treatment option for corporations owned by a limited number of shareholders. | |
| c. | a not-for-profit corporation. | |
| d. | none of the above |
3.572 points
QUESTION 16
Seniority systems:
| a. | were outlawed under Title VII. | |
| b. | are violations of the Age Discrimination Act. | |
| c. | can be valid if they are not used to perpetuate past discrimination. | |
| d. | none of the above |
3.572 points
QUESTION 17
A corporation is said to have double taxation. What is meant by this statement?
| a. | The corporation pays double the tax rate of individuals. | |
| b. | The corporation pays taxes on its income and its shareholders pay taxes on their dividends from the corporation. | |
| c. | both a and b | |
| d. | none of the above |
