After Hurricane Katrina Hit, Mississippi Power Was Able to Restore

question 138

Multiple Choice

After Hurricane Katrina hit, Mississippi Power was able to restore power to customers in

• A) 13 weeks
• B) 12 days
• C) 2 weeks
• D) 3 days
• E) 20 days

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Definitions:

Corporation

A legal entity that is separate from its owners, with an independent existence that allows it to own property, enter contracts, and be liable for its actions.

General Partner

A member of a partnership who has unlimited liability and takes part in the daily operations of the business.

Taxed

Subjected to a financial charge or levy by a governmental organization in order to fund various public expenditures.

S Corporation

A close corporation whose shareholders have elected to be taxed essentially like partners are taxed under federal income tax law. Also called subchapter S corporation.