Question : 71The true owners of the corporation is/are the Aboard of : 1405466

 

 

71The true owners of the corporation is/are the
Aboard of directors.
Bcreditors.

Cstockholders.
Dchief executive officer.

 

72The ________ has/have the ultimate responsibility in guiding corporate affairs and carrying out policies.
Aboard of directors
Bchief executive officer

Ccreditors
Dstockholders

 

73The responsibility for managing day-to-day operations and carrying out corporate policies belongs to the
Acreditors.
Bchief executive officer.

Cstockholders.
Dboard of directors.

 

74In a corporation, the members of the board of directors are elected by the
Astockholders.
Bcreditors.

Cchief executive officer.
Demployees.

 

75________ is concerned with the duties of the financial manager in the business firm.
AManagerial Finance
BFinancial Services

CThe Financial Manager
DNone of the above

 

76About 75 percent of all business firms are
Acorporations.
Bsole proprietorships.

Ccooperatives.
Dpartnerships.

 

77A major weakness of a partnership is
Adifficulty liquidating or transferring ownership.

Baccess to capital markets.

Climited liability.

Dlow organizational costs.

 

78All of the following are key strengths of a corporation EXCEPT
Aaccess to capital markets.
Breadily transferable ownership.

Clow organization costs.
Dlimited liability.

 

79Which of the following legal forms of organization is characterized by limited liability?
Asole proprietorship
Bprofessional partnership

Ccorporation
Dpartnership

 

80The dominant form of organization with respect to revenues and net income is the
Apartnership.
Blimited partnership.

Csole proprietorship.
Dcorporation.