Select the Correct Answer for Each Question

question 118

Multiple Choice

Select the correct Answer for each question.
-Find

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Definitions:

Board of Directors

A group of individuals elected by shareholders to oversee and make strategic decisions for a company.

Shareholders

Owners of shares in a corporation, holding a portion of the business's stock, and therefore having rights to dividends and a say in company matters.

Corporation

A legal entity recognized by law as separate from its owners, with its own rights, privileges, and liabilities.

S Corporation Election

A tax status election made by a corporation with the Internal Revenue Service to be taxed as a pass-through entity, avoiding double taxation on corporate income.