Which of the Following Is True of a Corporation

question 167

Multiple Choice

Which of the following is true of a corporation?

• A)A corporation cannot be privately held.
• B)The earnings of a corporation may be subject to double taxation.
• C)A corporation has a limited life.
• D)The stockholders of a corporation have unlimited liability for the corporation's debt.

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Definitions:

Perfect Tender Rule

A principle in sales law that allows buyers to reject goods if they fail to meet every aspect of the contractual terms.

Material Breach

A significant violation or failure to perform one's duties under a contract, justifying termination by the other party.

Anti-Racism

An active and proactive stance against all forms of racism, promoting policies, actions, and attitudes that challenge racial prejudice and inequality.

Multiculturalism

A framework or policy that promotes the acknowledgement and respect of cultural diversity within a society, encouraging the preservation of cultural identities.