Author Question: Which of the following is true about a corporation? A) Corporations must have a minimum of two or ... (Read 35 times)

Shelles · **on:** Jul 5, 2018

Which of the following is true about a corporation?

A) Corporations must have a minimum of two or more shareholders.
B) Each individual shareholder has individual legal responsibility for the corporation's actions.
C) Corporations are exempt from taxes; however, the shareholders are required to pay taxes on dividends received.
D) Managers of corporations can be held responsible for the actions of the corporation.

Question 2

If the ownership of merchandise passes to the buyer when the seller delivers the merchandise for shipment, the terms are stated as FOB destination.
a. True
b. False

Indicate whether the statement is true or false