A ________ Is a Business Enterprise That Is Owned by Stockholders,most

question 32

Multiple Choice

A ________ is a business enterprise that is owned by stockholders,most of whom are not involved in running the daily affairs of the business.

• A)proprietorship
• B)corporation
• C)law firm
• D)social institution

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Definitions:

Secured Creditor

Someone who has a ‘charge’ over some or all of the company’s assets, to secure a debt owed by the company.

Corporation Act

A legal framework that governs the creation, operation, and dissolution of corporations, detailing the regulatory environment for corporations and their stakeholders.

Administrator's Role

A position involving the management and organization of a company or institution's affairs, often referring to duties in a legal or academic context.

Registered Liquidator

A qualified individual authorized to act in relation to the winding up of insolvent companies, managing the process of realizing assets, paying creditors, and distributing any remaining assets.