Corporations differ from partnerships and other forms of business association in two ways. One of these is that
a. they are regulated by the Federal Trade Commission.
b. they are formed simply by an agreement entered into among their members.
c. they must be publicly registered or in some way officially acknowledged by the law.
d. their shareholders are entitled to their share of the company's profits as soon as they are ascertained or
determined.
Question 2Corporations are limited-liability companies which means that
a. corporate shareholders are liable for corporate debts only up to the extent of their investments.
b. corporations must be publicly held and thus traded on the stock market.
c. corporations are always for-profit but that profit can be limited but often is not in reality.
d. corporate shareholders are immediately entitled to any profits or the company is liable
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