A Corporation Is a Legal Entity

question 25

Multiple Choice

A corporation is a legal entity

• A) held jointly by its owners and management.
• B) separate from its owners.
• C) formed by the laws of the U.S. Department of Commerce.
• D) under the laws established by the SEC.

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Definitions:

Freeholders

Historically, individuals who owned their land outright, without owing feudal duties or rents to a superior, often having specific political rights or privileges in their locality.

Suffrage

The entitlement to participate in political elections by casting a vote.

Popular Votes

The total number of votes cast by the electorate in an election, as opposed to electoral college votes or legislative votes.