A Business Organized as a Corporation

question 93

Multiple Choice

A business organized as a corporation

• A) is not a separate legal entity in most states.
• B) requires that stockholders be personally liable for the debts of the business.
• C) is owned by its stockholders.
• D) terminates when one of its original stockholders dies.

---

Definitions:

Firm's Existence

Relates to the ongoing operations and presence of a company within its market or industry.

Career Path

The upward sequence of job movements during a sales career.

Job Movements

Refers to career changes, promotions, or transfers within or between companies, affecting employee trajectories and organizational structure.

Service Salesperson

A professional who specializes in selling intangible products, such as software services, consultancy, or insurance policies.