A Corporation May Be Prosecuted and Convicted Of: ______

question 18

Multiple Choice

A corporation may be prosecuted and convicted of: ______.

• A) a criminal offense if its agent committed the offense while acting within the scope of the agent's authority.
• B) an error in business judgment, assuming that no other reasonable corporation would have committed such an error.
• C) operating without a corporate charter if the corporation has never sought a charter from the secretary of state's office, or if its directors and/or officers either knew of should have known that the secretary of state's office had revoked the charter.
• D) none of the above; a corporation itself is not subject to criminal prosecution and conviction.

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Definitions:

Market Equilibrium

Market Equilibrium is a state in which market supply equals market demand, meaning that goods supplied at a certain price are exactly matched by the goods demanded at that price.

Excess Demand

A market situation where the quantity demanded of a product exceeds the quantity supplied at a given price, leading to shortages.

Excess Supply

The situation where the quantity of a good or service that is available exceeds the quantity demanded by consumers at the current price.

Excess Demand

A market condition where the quantity demanded of a product exceeds the quantity supplied, often resulting in upward pressure on prices.