Because Corporations Are Chartered Either with Perpetual Life or with Provision

question 52

Multiple Choice

Because corporations are chartered either with perpetual life or with provision for renewal if the charter specifies a limit, irrespective of the deaths of any stockholders or disposal of their stock, corporations are said to have the characteristic of

• A) limited liability of owners.
• B) transferable ownership units.
• C) taxation of corporate earnings.
• D) unlimited life.

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Definitions:

Phase Currents

The electric current flowing through one phase of a multi-phase system.

Neutral Conductor

The conductor in an electrical system that is grounded and carries current only under fault conditions, providing a path for current to return to its source in a balanced system.

True-RMS Indicating Ammeter

An electrical measuring instrument that accurately measures the root mean square (RMS) of a varying current, reflecting true power even in non-sinusoidal situations.

Average-Indicating Ammeter

A device used to measure the average current flowing through a circuit.