Which of the Following Often Applies to Professional Employees

question 53

Multiple Choice

Which of the following often applies to professional employees?

• A) They cannot advance in salary beyond a point without taking on administrative duties.
• B) They cannot participate in profit-sharing plans.
• C) They cannot own stock due to conflict of interest.
• D) They can fully utilize their professional skills only after being promoted.

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Definitions:

Close Corporation

A private company characterized by a limited number of shareholders and operated with less formal structures than a publicly traded company.

Formal Records

Official documents that accurately capture and store information or transactions for future reference.

Corporate Veil

A legal concept that separates the actions and liabilities of a corporation from those of its shareholders or directors.

Corporate Property

Assets owned by a corporation, including real estate, intellectual property, and physical goods.