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66 Qs

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Assessment

Quiz

Financial Education

University

Easy

Created by

Thanagid Chaichayanon

Used 4+ times

FREE Resource

66 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In most corporations, the CFO ranks under the CEO.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Chairman of the Board must also be the CEO.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The board of directors is the highest ranking body in a corporation, and the chairman of the board is the highest ranking individual. The CEO generally works under the board and its chairman, and the board generally has the authority to remove the CEO under certain conditions. The CEO, however, cannot remove the board, but he or she can endeavor to have the board voted out and a new board voted in should a conflict arise. It is possible for a person to simultaneously serve as CEO and chairman of the board, though many corporate control experts believe it is bad to vest both offices in the same person.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Partnerships and proprietorships generally have a tax advantage over corporations.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A disadvantage of the corporate form of organization is that corporate stockholders are more exposed to personal liabilities in the event of bankruptcy than are investors in a typical partnership.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An advantage of the corporate form of organization is that corporations are generally less highly regulated than proprietorships and partnerships.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Some partners in a partnership may have different rights, privileges, and responsibilities than other partners.

True

False

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