The Possible Consequences of a Defective Incorporation Include Which of the Following

question 43

Multiple Choice

The possible consequences of a defective incorporation include which of the following?

• A) The state may bring an action against the association for involuntary dissolution.
• B) The associates are held personally liable to a third party.
• C) A third party may assert that it is not liable to the association.
• D) All of these.
• E) None of these.

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Definitions:

Ownership

The legal right or state of having full control and possession over property, assets, or an entity.

Ethics Competency

The ability to recognize ethical issues, make reasoned ethical judgments, and implement decisions in a manner consistent with established ethical standards.

Stakeholder Ethics

The principles and standards that guide how a business should act towards its stakeholders to be considered ethical.

Johnson and Johnson

A multinational corporation known for producing pharmaceuticals, medical devices, and consumer packaged goods.