Which of the following statements about the operation of a corporation is correct? Select one: O...

Transcribed Image Text:

Which of the following statements about the operation of a corporation is correct? Select one: O a. A corporation receives its charter from a state government. O b. A corporate charter automatically expires in 99 years and must be renewed if the corporation wants to remain in business. Ⓒc. Owners of a corporation have unlimited liability for any claims against their company. O d. A corporation tends to be much easier to set up than a sole proprietorship or partnership. Clear my choice What entity elects the board of directors for a corporation? Select one: O a. Creditors O b. Stockholders O c. Managers O d. Employees It is correct to say that if a franchisor expects an 8% royalty fee on revenue, the franchisor earns 8 cents on each dollar of revenue the franchisee generates. Select one: O True O False Which of the following statements about the operation of a corporation is correct? Select one: O a. A corporation receives its charter from a state government. O b. A corporate charter automatically expires in 99 years and must be renewed if the corporation wants to remain in business. Ⓒc. Owners of a corporation have unlimited liability for any claims against their company. O d. A corporation tends to be much easier to set up than a sole proprietorship or partnership. Clear my choice What entity elects the board of directors for a corporation? Select one: O a. Creditors O b. Stockholders O c. Managers O d. Employees It is correct to say that if a franchisor expects an 8% royalty fee on revenue, the franchisor earns 8 cents on each dollar of revenue the franchisee generates. Select one: O True O False

Answer rating: 100% (QA)

1 A corporation receives its charter from the state go... View the full answer