Which of the Following Is True About Corporations

question 70

Multiple Choice

Which of the following is true about corporations?

• A) Corporate law is federal law.
• B) Corporate law is statutory; thus, there is no common law applicable to corporations.
• C) Changes to state corporate law can require the amendment of a corporation's articles of incorporation, even though the corporation is already in existence.
• D) One requirement of corporate status is that a corporation's stock must be owned by a large number of shareholders.
• E) There are no closely-held corporations.