Corporations 101
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Questions and Answers

Which entity is liable for the actions and finances of a corporation?

  • Management
  • Board of directors
  • Executive directors
  • Shareholders (correct)

    • What are the characteristics of a corporation?

  • Ownership in property
  • Ownership in partnerships
  • Ownership in sole proprietorships
  • Ownership in shares (correct)

    • What is the role of the board of directors in a corporation?

  • Run the company
  • Own the company
  • Appoint the management (correct)
  • Elect the shareholders

    • What are the two types of limited companies?

    <p>Limited by Guarantee and Limited by Shares</p> Signup and view all the answers

    Who owns a corporation but does not run it?

    <p>Shareholders</p> Signup and view all the answers

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