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:

Compound Name

The designation or label given to a chemical substance based on its composition and structure.

Methyl Groups

An alkyl derived from methane, containing one carbon atom bonded to three hydrogen atoms -CH3.

Dimethylhexane

A category of alkane hydrocarbons with a base structure of hexane substituted by two methyl groups, having several isomers.

Storytelling

The art or practice of narrating stories or events, often with a moral or lesson, through various mediums.