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Business 101 Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution CA$11.47   Add to cart

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Business 101 Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

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Business 101 Questions with 100% Actual correct answers | verified | latest update | Graded A+ | Already Passed | Complete Solution

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  • June 19, 2024
  • 3
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers
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Business 101
Although a corporation is owned by a group of people, does it act as if it were a single
person? - ANS-Yes

Is a corporation allowed to make contracts but not borrow money? - ANS-No

Is it possible for a corporation to be used in its own name? - ANS-Yes

Can a person who buys only one share of stock become an owner of a corporation? -
ANS-Yes

Is a dividend the amount of money a person pays to buy a share of stock - ANS-No

Could a stockholder be responsible for all the debts of a corporation? - ANS-No

Can creditors collect from stockholders if the corporation fails? - ANS-No

Are the members of the board of directors elected by stockholders? - ANS-Yes

Can a corporation make important changes in te purpose of its business without
changing its charter? - ANS-No

When shares are transferred, must the transfer of ownership be indicated in the records
of the corporation? - ANS-Yes

Is the annual sales tax rate for corporations based on profits? - ANS-Yes

Is it possible for some corporations to avoid double taxation? - ANS-Yes

Does a joint venture occur when two major contractors agree to connect two cities by
building a tunnel under a river? - ANS-Yes

Do virtual corporations tend to be temporary relationships? - ANS-Yes

Does a cooperative provide members with both cost and profit advantages that they
would not have individually? - ANS-Yes

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