The True Owner(s) of the Corporation Is (Are) the ________

question 35

Multiple Choice

The true owner(s) of the corporation is (are) the ________.

• A) board of directors
• B) chief executive officer
• C) stockholders
• D) creditors

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Definitions:

Right To Recourse

The right to recourse refers to the legal ability to seek compensation or redress from a party that has failed to fulfill their contractual obligations.

Reimbursement

The act of compensating someone for an expense or loss incurred, often seen in business, insurance, and employment contexts.

Negotiable Instrument

A transferable, signed document that promises to pay the bearer or named party a certain sum of money either on demand or at a specified future date.

Drawer

In the context of financial instruments, the entity that writes or issues a check or draft.