Pola and Quincy Want to Form and Do Business as River

question 72

Multiple Choice

Pola and Quincy want to form and do business as River Tours Corporation.A corporation is owned by 

• A) ​the board of directors. 
• B) ​the officers. 
• C) ​the employees. 
• D) ​the shareholders.

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Definitions:

Creditors' Risk

The risk that debtors will fail to make payments on debts owed, affecting creditors' financial positions.

Nonpayment

The failure to fulfill a financial obligation, such as not paying bills, debts, or invoices when they are due.

Fiscal Year

A 12-month period used for accounting purposes and preparing financial statements, which may not necessarily align with the calendar year.

Stockholder's Equity

The ownership interest of shareholders in the assets of a corporation, represented by their shares of the company's stock.