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:

Profitable

Refers to the ability of a business or activity to generate more income than expenses, resulting in a financial gain.

Breakthrough Stage

A phase in development where significant and sudden progress or advance is made in understanding or innovation.

Entrepreneurial Firms

Companies that pursue opportunities, regardless of the resources they currently control, characterized by innovation, risk-taking, and proactiveness.

Investing Wisely

The process of allocating resources, typically money, in different financial instruments or assets with the aim of generating favorable returns while managing risks.