LIT1 - WGU - Corp Word Scramble
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Question | Answer |
Why is a corporation formed? | To transact business for profit |
Who mainly owns a corporation? | The shareholders of the corporation |
Which amendment is a corporation mainly protected? | The fifth amendment |
If a corporation wants to do business in multiple states who must it comply with? | The states in which it does business and the federal law. |
What is the main type of corporation? | General business corporation |
What is the S-type of corporation? | small, privately owned corporation, limited to 35 shareholders who are taxed like partners |
What is a C-Type corporation? | small, has under 30 shareholders, shares are not publicly traded. |
Created by:
mfagre
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