Which of the Following Is a Defining Characteristic of Public

question 30

Multiple Choice

Which of the following is a defining characteristic of public corporations?

• A)Their stock can be bought,sold,or traded by anyone.
• B)They do not pay taxes on their income.
• C)Their stockholders do not receive any dividends.
• D)They are owned and managed by just one or a few people.
• E)They are not required to disclose any financial information to their stockholders.

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Definitions:

Deed of Land

A legal document that represents the ownership of property and transfers the title from one party to another.

Statute of Frauds

A legal principle requiring certain contracts to be written and signed to be enforceable.

Executor

A person named in a will or appointed by a court to administer the estate of a deceased person.

Liquidated

The process of converting assets into cash, often referring to the disbanding of a company and selling off its assets.