Which of the Following Is an Incorrect Statement About a Corporation

question 28

Multiple Choice

Which of the following is an incorrect statement about a corporation?

• A) A corporation is an entity separate and distinct from its owners.
• B) Creditors ordinarily have recourse only to corporate assets in satisfaction of their claims.
• C) A corporation may be formed in writing orally or implied.
• D) A corporation is subject to numerous state and federal regulations.

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Definitions:

Catatonic Schizophrenia

A type of schizophrenia characterized by abnormal movement patterns, including stupor, rigidity, or excessive, purposeless movements.

Fugue Disorder

A rare psychological disorder characterized by reversible amnesia for personal identity, including the memories, personality, and other identifying characteristics of individuality, often involving unplanned travel or wandering.

Usual Home

The typical dwelling place or residence where an individual spends most of their time and considers their primary living space.

Obsessive-compulsive

Pertaining to a mental disorder characterized by unwanted repetitive thoughts (obsessions) and/or actions (compulsions).