Review Business Law Topic 2.2

Review Business Law Topic 2.2

University

9 Qs

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Review Business Law Topic 2.2

Review Business Law Topic 2.2

Assessment

Quiz

Social Studies

University

Practice Problem

Medium

Created by

thaonb Thảo

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9 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The first formal step in incorporating a corporation is drafting and filing the__

articles of incorporation

company bylaws

stock certificates

minutes of incorporation

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Directors of a corporation are elected by __

the state

the officers

the shareholdes

the public

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The part of corporate profits paid to a stockholder is called

stock

share

dividend

interest

4.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which is not an advantage of corporation?

continuity

ease of formation

limited liability

ease of transferring ownership

5.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Which of the following bodies has the power to establish general corporate policies in a corporation?

Officers

Stockholders

Auditors

Board of Directors

6.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Unless otherwise agreed, the partners’ shares of the profits in a partnership are

based on the amount each partner invested.

based on the partners' salaries.

equal

based on the time each partner devotes to management

7.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

To establish a partnership, there always must be a partnership agreement.

True

False

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