Corporation: Legal Entity Quiz

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Questions and Answers

What do channels refer to in the context provided?

  • Platforms used to generate revenue
  • Ways to build checklists
  • Methods for seeking product information (correct)
  • Communication methods used by customers

Which of the following is considered a key resource according to the text?

  • Technological infrastructure
  • Distribution channels
  • Revenue streams
  • Intellectual property (correct)

What is the purpose of defining Key Activities according to the text?

  • To outline what needs to be done (correct)
  • To generate revenue streams
  • To establish partnerships
  • To build checklists for tasks

Who are considered Key Partners based on the given information?

<p>Suppliers and outsourcing partners (C)</p> Signup and view all the answers

In the context provided, what is a Revenue Stream related to?

<p>Generating revenue (C)</p> Signup and view all the answers

Which of the following is NOT classified as a Key Resource?

<p>Distribution channels (B)</p> Signup and view all the answers

What is the importance of Key Partners in this context?

<p>To provide necessary resources and support (A)</p> Signup and view all the answers

Why is defining Channels significant according to the text?

<p>To understand how customers seek product information (A)</p> Signup and view all the answers

What type of corporation is formed in another country but does business in the United States?

<p>Foreign corporation (A)</p> Signup and view all the answers

What type of corporation offers limited personal liability to its shareholders?

<p>C-corporation (A)</p> Signup and view all the answers

Which type of partnership involves partners with limited liability and active involvement in management?

<p>Limited liability partnership (A)</p> Signup and view all the answers

In the context of business entities, what is the primary characteristic of a limited partnership?

<p>Limited number of partners with at least one general partner and one limited partner (A)</p> Signup and view all the answers

What distinguishes a limited liability partnership from other forms of partnerships?

<p>Partners are protected from personal liability for the negligence of their partners (C)</p> Signup and view all the answers

Which type of entity provides the benefit of perpetual existence and centralized management?

<p>Corporation (B)</p> Signup and view all the answers

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