Which is true about corporation ?

A. It is worse type of business organization.
B. The minimum number of incorporators to start a corporation is three.
C. Its life is dependent on the lives of the incorporators.
D. The stock holders of the corporation are only liable to the extent of their investments.

An association of two or more persons for the purpose of engaging into a business for profit is called ____________________?

A. Entrepreneurship
B. Partnership
C. Proprietorship
D. Corporation

Aggregation of individuals formed for the purpose of conducting a business and recognized by law as a fictitious person is called ________________________?

A. Partnership
B. Investors
C. Corporation
D. Stockholders

What represents the ownership of stockholders who have a residual claim on the assets of the corporation after all other claims have been settled ?

A. Authorized capital stock
B. Preferred stock
C. Incorporator stock
D. Common stock

What stock represents ownership and enjoys certain preferences than ordinary stock ?

A. Authorized stock
B. Preferred stock
C. Incorporator’s stock
D. Presidential stock

The amount of company’s profit that the board of directors of the corporation decides to distribute to ordinary shareholders is called ___________________?

A. Dividend
B. Return
C. Share of stock
D. Equity

Is an artificial being created by operation of law, having the right of succession and the process, attributes and properties expressly authorized by the law or incident to its existence ?

A. Corporation
B. Property
C. Partnership
D. Organization

What is the simplest form of business organization ?

A. Sole proprietorship
B. Partnership
C. Enterprise
D. Corporation

Double taxation is a disadvantage of which business organization ?

A. Sole proprietorship
B. Partnership
C. Corporation
D. Enterprise

In case of bankruptcy of a partnership________________?

A. The partners are not liable for the liabilities of the partnership
B. The partnership assets (excluding the partners personal assets) only will be used to pay the liabilities
C. The partners personal assets are attached to the debt of the partnership
D. The partners nay sell stock to generate additional capital