A Business Organized as a Corporation

question 151

Multiple Choice

A business organized as a corporation

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

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Definitions:

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A mechanical device that converts thermal energy from steam into mechanical energy, used in electricity generation and various industrial applications.

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