A Corporation

question 15

Multiple Choice

A corporation:

• A)is ultimately controlled by its board of directors.
• B)is a legal entity separate from its owners.
• C)is prohibited from entering into contractual agreements.
• D)has its identity defined by its bylaws.
• E)has its existence regulated by the rules set forth in its charter.

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Definitions:

Assignment Clause

A provision in a contract that permits the transfer of rights and obligations to another party under specified conditions.

Metal Fabrication

The process of building machines and structures from raw metal materials through cutting, bending, and assembling.

Prime Properties

Real estate assets considered to be of the highest quality and value, often due to their location, amenities, or income-generating potential.

Proportionate Amounts

Quantities or shares that are in correct or specified relationships in size, number, or amount relative to each other.