Corporations Differ from Partnerships and Other Forms of Business Association

question 58

Multiple Choice

Corporations differ from partnerships and other forms of business association in two ways. One of these is that

• A) they are regulated by the Federal Trade Commission.
• B) they are formed simply by an agreement entered into among their members.
• C) they must be publicly registered or in some way officially acknowledged by the law.
• D) their shareholders are entitled to their share of the company's profits as soon as they are ascertained or determined.

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Definitions:

Real Property

Land and any permanent structures attached to it, such as houses, buildings, and other fixtures, recognized as legal property.

Intellectual Property Rights

Legal rights granted to creators and inventors to protect their creations and inventions from unauthorized use by others.

Personal Property

Items of ownership that are movable and not permanently attached to or part of real estate; includes tangible items like furniture and intangible rights.

Real Property

Real property refers to land and anything permanently attached to it, such as buildings and fixtures.