Chap 7 Corporations Review

What is a disadvantage of a corporation?

What is an advantage of a corporation?

What is a disadvantage of a corporation?

The number of stock shares someone owns divided by the total number of shares, shows the person's _____ of ownership.

Corporations borrow money at a higher rate than proprietorships or partnerships.

What is a disadvantage of a corporation?

What do you purchase to obtain ownership in a corporation?

LLC shareholders can be non-US citizens.

LLC's must use great care in writing an operating agreement.

What is a disadvantage of a corporation?

What is an advantage of a corporation?

With corporations, you have less secrecy because __________ business information is required.

How many shareholders can a LLC have?

James Cash Penney was a cow farmer.

If a board member dies, the stockholders _______.

Public corporations are owned and managed by private individuals.

What is a LLC?

What is a disadvantage of a corporation?

In large corporations, workers begin to feel they are only a small part of a giant firm.

A board of directors runs a corporation.

Proprietorships and partnerships cannot react quickly to market change.

As an owner of a LLC, you have unlimited liability.

What are the two types of corporations?

What is an advantage of a corporation?

An example of a public corporation is Amtrak.