Question 1

2pts

There is considerable variation among state corporation laws.

Group of answer choices

True

False

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Question 2

2pts

Promoters, not incorporators, must execute the articles of incorporation.

Group of answer choices

True

False

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Question 3

2pts

Most states limit the duration of a corporation's existence to fifty years.

Group of answer choices

True

False

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Question 4

2pts

Every corporation must identify a specific person as an agent to receive legal documents on behalf of a corporation.

Group of answer choices

True

False

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Question 5

2pts

Corporate officers govern every corporation.

Group of answer choices

True

False

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Question 6

2pts

Some states permit some corporations to eliminate the board of directors.

Group of answer choices

True

False

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Question 7

2pts

A director can be removed from a corporate board for cause.

Group of answer choices

True

False

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Question 8

2pts

A director is a fiduciary of a corporation.

Group of answer choices

True

False

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Question 9

2pts

Under some circumstances, a corporation can refuse a shareholder's request to inspect corporate records.

Group of answer choices

True

False

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Question 10

2pts

A shareholder who owns sufficient shares to exercisede factocontrol over a corporation owes a fiduciary duty to the minority shareholders.

Group of answer choices

True

False