Reference no: EM132958099
Problem 1: The articles of incorporation:
A. establish the rights of the shareholders.
B. are rules which apply only to limited liability companies.
C. address only those issues related to a corporation's managers and directors.
D. establish the compensation to be granted to senior managers.
E. include only the name, purpose, and intended life of the corporation.
Problem 2: Which type of business organization has all the respective rights and privileges of a legal person?
A. Sole proprietorship
B. Corporation
C. General partnership
D. Limited partnership
E. Limited liability company
Problem 3: A business entity operated and taxed like a partnership, but with limited liability for the owners, is called a:
A. limited liability company.
B. general partnership.
C. limited proprietorship.
D. sole proprietorship.
E. corporation.