Identify Each of the Following Corporations by Type

question 52

Essay

Identify each of the following corporations by type.
a. Dr. Smith and Dr. Jones are both medical doctors who practice together. They incorporate their medical practice so that they can offer themselves and their employees better employment benefits.
b. A group of concerned citizens obtains a corporate charter from the state to form a local Water Planning and Management Corporation that is authorized to do water planning on a local level and to grant permits for such purposes as the installation of ditches, and the encouragement of good water usage practices in their jurisdictional area.
c. Agatha and Betty, who are sisters, form a corporation in which they are the sole shareholders. They plan to operate a large retail store that sells collectibles. Agatha is the president and Betty is the chairperson of the board of directors.
d. Bill and Carl form a corporation to prevent spouse and child abuse. The corporation operates a shelter for battered women and homeless children.
e. Zeron Corporation is incorporated in the state of West Virginia. It decides to expand its business to Kentucky. What type of corporation is it in West Virginia? What type of corporation is it in Kentucky?

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Definitions:

Lending Workers

The practice of temporarily assigning employees to work for another organization or within a different part of the same organization.

Extending Reductions

The process of increasing the scope or duration of cost-cutting or resource-saving measures.

Deep Water Exploration

The process of investigating and exploring the seabed and sub-sea layers in oceanic environments at great depths for resources or scientific research.

Company Profits

The financial gain that a company obtains after deducting all its expenses from its total revenues.