Author Question: Which of the following is a consequence of a corporation being a separate entity from its owners? A) ... (Read 34 times)

DyllonKazuo · **on:** Jul 14, 2018

Which of the following is a consequence of a corporation being a separate entity from its owners?
A) The owners are not personally responsible for the obligations of a company.
B) The articles of incorporation are not required to set up a corporation.
C) A corporation cannot enter into binding contracts in its name.
D) The death or withdrawal of an owner dissolves a corporation.

Question 2

What are the primary responsibilities of the board of directors? What do corporate officers manage?

mammy1697 · **Reply #1 on:** Jul 14, 2018

Answer to Question 1

A

Answer to Question 2

The major responsibilities of the board of directors are to set company goals and develop general plans (or strategies) for meeting those goals of the corporation. The board of directors is responsible for the firm's overall operation as well as appointing corporate officers. The corporate officers help the board to make plans, carry out the plans, hire employees, and manage day-to-day activities.