A Corporation

question 38

Multiple Choice

A corporation

• A) is chartered under state laws.
• B) is chartered under federal laws.
• C) remains in existence only as long as its owners are alive.
• D) shifts liability of its debts to its owners.

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Definitions:

Just-in-time System

A production strategy that strives to improve a business's return on investment by reducing in-process inventory and associated carrying costs through receiving goods only as they are needed in the production process.

Client Specifications

Client specifications are detailed descriptions provided by a client outlining the requirements, standards, and criteria for a project or product.

Quality

Good or service that is free of deficiencies.