Which of the Following Is a Primary Legal Characteristic of the Corporate

question 49

Multiple Choice

Which of the following is a primary legal characteristic of the corporate form of business?

• A)The management of the business is centered in a Board of Directors elected by the shareholders.
• B)A shareholder must seek permission to sell his stock.
• C)The life of the corporation will terminate when a majority of the shareholders die or cease to exist.
• D)A shareholder is personally liable for the debts of the corporation.

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Definitions:

Food Supplies

The total amount of food available or stocked for consumption and distribution to meet the demands of the population.

Green Globes

A certification program focused on improving environmental performances of buildings through sustainable design and operations.

LEED

Leadership in Energy and Environmental Design; a widely used green building certification program that evaluates the environmental performance of a building.

ISO 14000

A family of international standards related to environmental management aimed at helping organizations minimize their environmental impact.