Which of the Following Statements Is TRUE

question 74

Multiple Choice

Which of the following statements is TRUE?

• A)when a partner dies, the partnership continues to exist and is not dissolved
• B)when a shareholder dies, the corporation continues to exist and is not dissolved
• C)when a shareholder dies, the corporation is dissolved
• D)when a shareholder dies, their shares are must be transferred to other existing shareholders
• E)shareholders owe each other a fiduciary duty

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Definitions:

Net Exports

The difference between a country's total value of exports and its total value of imports within a certain timeframe.

Government Purchases

Spending by the government on goods and services, which is part of fiscal policy to influence the nation's economy.

GDP

Gross Domestic Product, a measure of the economic output of a country, expressing the total value of all goods and services produced over a specific time period.

Consumption

Household consumption of products and services.