Liberty BUSI 301 Connect Homework Chapter 15 Answers Complete Solutions
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A(n) is a fictitious legal entity.
A single document signed by each principal of a privately-held corporation in lieu of a meeting to dispose of necessary tasks, such as electing directors, is a(n) .
A Texas-based corporation that sells its widgets in California would be considered a(n) corporation in California.
At the organizational meeting, the can amend the articles of incorporation to reflect any changes in the principals’ strategy since the time of formation.
A(n) guarantee may be required by a creditor in order to allow the creditor to attach the personal asset
Who are the owners of a corporation?
The typically set forth the required number of directors for a corporation.
The rule protects officers and directors from making incorrect decisions on behalf of the corporation.
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Having a personal financial interest, not being diligent in keeping informed, and not using reasonable decision-making skills, could jeopardize the protection provided to officers and directors by which of the following?
After filing the articles of incorporation, the principals typically hold the first: .
When a court allows creditors of a corporation to reach the personal assets of the shareholders, this is referred to as: .
If an officer or director is not reasonable in his or her decision-making, they will lose the protection of the business ________ rule.
The first meeting allows the principals to resolve any pending issues and to amend the if necessary.
The “S” in an S corporation references a subchapter in the: .
The owners of a corporation are called: .
A(n) capital firm can help provide a company with a substantial amount of money as well as expertise.
A state’s corporation law covers the structure of corporation and annual reporting requirements.
Even after commencement of business operations, have a responsibility to comply with state statutory requirements regarding shareholders’ and directors’ meetings, filing of annual reports, and must use their best efforts to keep corporate and bylaws up to date.
The is/are filed with a state governing body to create a corporation.
A creditor loaning money to a corporation with limited assets will almost always require a(n) guarantee.
The Dallas Transit System, Inc. would be an example of a(n) corporation.
corporations use pass-through taxation.
Which of the following will help a venture capital firm to exit from the corporation with a substantial return?
Ownership interests in a corporation are evidenced by a(n): .
If the directors and officers fail to attend to corporate they may be subject to personal liability.
The doctrine states that when an opportunity related to the corporation’s business is presented, the ‘insider’ may not for herself a business opportunity that belongs to the corporation or would benefit the corporation in some direct way.