Which of the Following Statements About the Operation of a Corporation

question 9

Multiple Choice

Which of the following statements about the operation of a corporation is correct?

• A)A corporation receives its charter from the federal or a provincial government.
• B)A corporate charter automatically expires in 99 years and must be renewed if the corporation wants to remain in business.
• C)Owners of a corporation have unlimited liability for any claims against their company.
• D)A corporation tends to be much easier to set up than a sole proprietorship or partnership.

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Definitions:

Operational Plans

Detailed plans outlining how the strategic goals of an organization will be achieved through specific actions within a short to medium timeframe.

Facilities Plan

A strategic plan that outlines the physical resources, spaces, and environments necessary for an organization to operate efficiently.

Layout

The planned arrangement of elements in a space, such as equipment and stations in a factory, to optimize operations and workflows.

Human Resource Plans

Strategic documents that outline how a company intends to meet its current and future HR needs through the management of its workforce.