Um they invested in the business-even for tort liability

Assignment Help Operation Management

Reference no: EM131282900

1. Wrongful discharge is a(n):

a. felony

b. minor misdemeanor

c. major misdemeanor

d. tort

e. civil crime

2. Professional corporations are now allowed:

a. in all states

b. in about half the states

c. in some states

d. in a few of the more business friendly states

3. Shareholders in corporations and limited partners in limited partnerships have liability limited to the sum they invested in the business, even for tort liability.

a. true

b. false

4. Unless its articles of incorporation provide otherwise, a corporation:

a. lasts for twenty years

b. lasts for fifty years

c. lasts perpetually

d. lasts as long as state law allows; the life varies among the states

e. lasts as long as the IRS permits.

Reference no: EM131282900

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