If the Owners of a Corporation Don't File Their Annual

question 11

Multiple Choice

If the owners of a corporation don't file their annual paperwork, neglect to pay their annual fees, or commit fraud, a court could ignore the fact that a corporation has been established and the owners could be held personally liable for the actions of the corporation. This chain of effects is referred to as:

• A) vacating the corporate status
• B) yielding the corporate privilege
• C) surrendering the corporate shield
• D) piercing the corporate veil
• E) capitulating the corporate doctrine

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Definitions:

Preoperational Stage

A developmental phase in Piagetian theory, where children from about 2 to 7 years old develop memory and imagination, but do not yet think logically.

Theory Of Mind

A cognitive ability to understand that others have beliefs, desires, intentions, and perspectives different from one's own.

Egocentrism

The inability to differentiate between one's own perspective and someone else's perspective.

Three-Mountain Task

A cognitive test developed by Jean Piaget to measure egocentrism in children, involving the ability to see a set of mountains from different viewpoints.