WorksheetsChapter 41 - History and Nature of Corporations
Total questions: 8
Worksheet time: 3mins
Name
Class
Date
1.
Prior to the mid-1800s, U.S. corporations were limited by law in terms of time and scope of operations.
a)
True
b)
False
2.
A corporation is a fictitious, but legal, person.
a)
True
b)
False
3.
Corporations may be classified only in terms of ownership.
a)
True
b)
False
4.
Under the Commerce Clause, states have the power to regulate commerce within their state.
a)
True
b)
False
5.
A company under Kansas law is domestic when it operates within Kansas and a foreign company in any other state.
a)
True
b)
False
6.
C Inc. is owned by 2. The 2 built homes from $ loaned to C Inc. Corporate shield provides absolute liability protection.
a)
True
b)
False
7.
A state law that regulates business activities of a foreign corporation is constitutional if :
a)
It serves a legitimate state interest.
b)
The legitimate state interest outweighs the burden on interstate commerce.
c)
It is the most burdensome means of promoting that interest.
d)
Blue (serves) and turquoise (legitimate) but not yellow (most).
8.
Which of the following activities meet the requirements for doing business in a state?
a)
Owning personal property as investment.
b)
Maintaining a bank account for collection purposes.
c)
Maintaining a storefront for product sales.
d)
All of the above.
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