Corporation
Understanding Corporations Quiz
Test your knowledge of corporations with our engaging quiz! Whether you're a business student, entrepreneur, or just curious about corporate structures, this quiz is tailor-made for you!
- 16 insightful questions
- Multiple choice and checkbox formats
- Learn about corporate definitions, advantages, and disadvantages
What is the definition of a corporation
A company or group of people authorized to act as a single entity (legally a person) and recognized as such in law.
A legal form of business operation between two or more individuals who share management and profits.
A business that legally has no separate existence from its owner.
Which disadvantage doesn't apply to this business type (corporation)
There will be double taxation
Lots of rules to follow (hard process to start)
The business is fully liable for all debts and actions
It can cost 1,000$ to 8,000$ to start a corporation (depending on state)
True
False
Your Not liable for all debt/actions of the business
True
False
Owners of a corparation are called "Share holders"
True
False
You need to obtain special licensees and permits to start the business
True
False
There is no double taxation
True
False
What's the name of the laid out operating rules of the comany
Bylaws
Rules of incorporation
Rules of corporation
None of the above
How large are corporations
Nation-wide
State-wide
Global
All of the above
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