Corporations

Which of the following is NOT a corporation?

• McDonalds
• Macy's
• Eat N Park
• Ford

Why are corporations so important to the economy?

• Corporation bring most of the money earned in America
• Corporations provide opportunities for people to invest and get ahead financially
• Corporations provide the majority of American jobs
• Corporations provide things that people need or want
• All of the above

A corporation is a business organization that is legally ______________ from it owners.

• Separated
• Attached

When a business decides to incorporate they have to secure a _________ from the state government, establishing the existence of that new and separate legal entity.

• Birth certificate
• Loan
• Charter

What does it mean when they say that a corporation is a legal "person"?

• It means that the corporation is living human person that runs the business
• It means that a corporation is a legal person, separated from its owners, with the same rights under the law
• It means that corporations are illegal entities, connected to their owners, with the same rights as humans

What is a corporation?

• A business that is legally separated from its owners

• A business that is owned by one person

• A business that is owned by two or three people

A corporation can do all of the following EXCEPT:

• Enter into contracts

• Loan & borrow money

• Hire employee

• Own assets

• A corporation can do ALL of the options listed

Who owns a corporation?

• Stockholders
• Board of Directors
• Proprietor or Partnership that started the business

Who manages a corporation?

• Stockholders
• Board of Directors
• Proprietor or Partnership that started the business

Corporations can be owned by anyone that buys stock in a particular business.

• True
• False