A Corporation Is

question 156

Multiple Choice

A corporation is:

• A)A business legally separate from its owners.
• B)Controlled by the FASB.
• C)Not responsible for its own acts and own debts.
• D)The same as a limited liability partnership.
• E)Not subject to double taxation.

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Definitions:

Alien Registration Act

Also known as the Smith Act of 1940, a United States federal statute that required the registration of all aliens residing in the country and made it a crime to advocate the violent overthrow of the government.

U.S. Government

The federal government of the United States, composed of three branches: legislative, executive, and judicial, established to govern the country as outlined in the U.S. Constitution.

Grand Alliance

The coalition of nations, including the United Kingdom, Soviet Union, and United States, that allied to oppose the Axis powers during World War II.

Germany

A country in Central Europe known for its rich history, contributions to art, science, and philosophy, and its pivotal roles in both World War I and World War II.