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- Who is liable for a corporation's debts and obligations? OA. the limited partners OB. the general partners OC. the corporation OD. the registered agent OE. the shareholders16. The owners of Limited Liability Company are called: a. Directors b. Creditors c. Partners d. MembersWho is typically responsible for the day-to-day running of a corporation? OA. the limited partner B. the shareholders OC. the board of directors OD. the sole proprietor OE. the management team
- Define Limited liability company.A company that is controlled by another corporation is called a Select one: O a. Limited liability company O b. Subsidiary company O c. Parent company O d. CorporationStockholders elect a group of members from among them to manage the affairs of the Corporation, this group is called: O a. Board of directors O b. Articles of partnership O C. Stakeholders O d. Owners
- Characteristics of a corporation include a.shareholders who are mutual agents b.direct management by the shareholders (owners) c.shareholders who have limited liability d.its inability to own propertyWhich among the following form of business organization can issue shares to the general public? a. Partnership firm b. Limited Liability Company c. Public limited company d. Private companyWhich type of business structure requires that all shareholders be licensed?Question 1 options: a) Professional corporation b) S corporation c) Limited liability corporation d) C corporation
- Explain the difference between an S corporation and a limited- liability company.The stockholders of a company are: the owners policy setters responsible and liable for the financial well-being of the company operating within the company as independent shareholdersA company's "Board of Directors" is elected by that company's