characteristics of a corporation quizlet

100,000 & 275,500 & 3.00 Select one: a. B) *Single Business Enterprise Doctrine* States that when corporations are not operated as separate entities, but integrate their resources to achieve a common business purpose, each constituent corporation may be held liable for the debts incurred in pursuit of that business purpose 2 Which one of the following is not a characteristic of a corporation? E) Knowing where the institution stands and staying abreast of its financial health an odd degree polynomial function with real coefficients. Latin for "let the buyer beware"; buyers need to know what they are purchasing, whether it has a warranty, etc. vii) Can elect tax treatment as partnership An LLCs life is terminated at any members choice or death Caleb Brown is the sole owner of a bicycle sales and repair shop from several years. 2) A corporation is typically formed under the laws of a particular country, and is subject to the jurisdiction of the government in which it was created. The customer makes $20,000 in labour income when they are young. This statement is true. Descriptions High because buying stock is attractive Characteristic 1. a. inventory The federal securities laws also govern the sale of stock. \text{Total}&\underline{\$129}\\ Members of Gen Zloosely, people born from 1995 to 2010are true digital natives: from earliest youth, they have been exposed to the internet, to social networks, and to mobile systems. State laws usually include the requirements for issuing stock and distributions to stockholders. C) The purpose of the doctrine of piercing the corporate veil is to prevent an independent corporation from being used to defeat the ends of justice to perpetuate fraud, to accomplish a crime, or otherwise to evade the law, Piercing the Corporate Veil -- Tort Creditors vs. Contract Creditors, A) Courts make the distinction between contract creditors and tort creditors Characteristics of a professional medical corporation include it being --designated as an HMO or IPA. Bridgewater Corp. offered holders of its 1,000 convertible bonds a premium of $160 per bond to induce conversion into shares of its common stock. i) Corporation can act humanitarianly if that humanitarian effect is a secondary effect or purpose that comes after the primary purpose of creating a profit or long-term benefits of the company Characteristics of consumer markets include; Demographic characteristics- This is the foundation for understanding consumers and include ethnicity, age, income, gender, occupation, religion, nationality, social class, education and social class. Similarly, a person or an entity wishing to purchase stock in a corporation does not require the approval of the corporation or its existing stockholders before purchasing the stock. (6) The degree of discretion shown by the allegedly dominant corporation; ii) Where the corporate form is used as a shield behind which injustice is sought to be done by those who have control of it that equity penetrates the corporate veil, A) 141 says that the business and affairs of every corporation shall be managed by the board unless otherwise provided in the code, or in the certificate of incorporation c) Keeping detailed minutes of the meeting, AgencyAction Binding the Corporation Parties to the legal agency relationship, i) Corporation = Principal iii) At-will or definite period All corporations are owned by groups of investors. Brightstone presently produces and sells 130,000 tires for the North American market at a price of $175 per tire. How does the CPI differ from the MMPI? What theory is involved in the modern corporation? Owner authority and control One vote per share 2. Corporations are created under state or federal laws and have many of the same legal rights as a person . Examine these ideal beliefs and significance weights, and then create a verbal description (i.e., concept) of a new brand for these items that would satisfy this student's needs. Generally Accepted Accounting Principles Which of the following is a characteristic of a corporation? b) Outside Auditors Capital Acquisition It can be easier for a corporation to acquire debt and equity, since it is not constrained by the financial resources of a few owners. Latin for "let the buyer beware"; buyers need to know what they are purchasing, whether it has a warranty, etc. Are you sure you want to remove #bookConfirmation# Ownership of a corporation is held in shares of capital stock, which are transferable units. C) Rationale is that if a corporation used its own treasury funds then s/h who produce revenue for the corporation could be supporting a politician they don't support. It advances comprehension, proper understanding, and sharing of information applicable for making decisions. A corporation is owned by stockholders C. All shares of a corporation must be held by a single individual D. Each stockholder has the authority to commit the corporation to a binding contract through his actions. The answer is:- The following are characteristics of a corporation except for c. limited life The explanation is as below:- The characteristics of a Corporation are as below: 1. B) Board members don't hold the CEO or management team accountable for actions or inactions No legal entity: A sole proprietorship has no legal identity separate from that of its owner. c) Informed and rational basis = duty of care Often secured by property. B) Corporations should do a human rights due diligence analysis to examine risks of violations of human rights, i) If you are representing the corporation, then the corporation is your client, not any of the individual directors, officers or shareholders ii) Bookkeeping works within following three categories Corporation acts under its own name rather than in the name of its stockholders. a) Company, usually with the assistance of independent public accountants, verifies the information it has recorded and the manner in which it has presented the financial accounting, Accounting & Financial Reporting - Bookkeeping, i) Every transaction which a company is involved is included in the company's leger ii) No one factor is decisive i) Factors Dividends. A) The corporation is a separate legal person, but can neither sue nor be sued. How do I look up my California corporation number? Can adapt to changes Industrial businesses A corporation can obtain capital by selling stock or bonds. What are 2 characteristics of a corporation? Be sure to retrieve the 2016 financial statements, not another year. One of the disadvantages of a corporate structure is the corporation pays its own tax burden on net income and then the stockholders pay income tax on the dividends they receive. Tip. d) If they are repurchased by the corporation they become authorized and issued, but not outstanding, Before a corporation that has issued all the shares authorized by the articles of incorporation can issue more stock, it must amend the articles of incorporation to authorize additional shares If the order was accepted, the tires would be shipped overseas for an additional shipping cost of $7.50 per tire. B) Special Meetings Can be called pursuant to articles that are set forth in the bylaws, needs to give notice & some general information about what the meeting will be about Promoting from within cuts recruitment and training costs. Google. $$ Will consumption remain the same over the course of the consumer's life? What is a relevant cost? Relevant. Transferable ownership rights. They are kind to everyone. Table 4.1. What are some good character traits to have? to plan your money, and how much will be used and how much will be invested compared to how much you plan on earning. It can be easier for a corporation to acquire debt and equity, since it is not constrained by the financial resources of a few owners. c. lead time Duration of life 3. i) Shareholders are not authorized to act directly for the corporation, and thus cannot enforce a corporate claim against the managers. - b.$55 per unit a) Gross negligence is the standard for board of directors 2014 figures for the company are as follows (in thousands): Accounts receivable (net) $279,835; Inventories$536,714; Accounts payable $210,432. Key Characteristics of Different Taxes . How much does it cost to start a California corporation? (usually, a closed corporation operates like a partnership). C. The title of the corporation is limited by the death of the owner Which of the following is a characteristic of a limited liability company (LLC)? 15 Simple Traits Of A Truly Good Person There are two types of securities: debt and equity B) A corporations articles of incorporation specify how many shares of common stock and preferred stock the corporation is authorized to issue Equity securities Equity securities consist of common stock and preferred stock iii) Inherent Authority Infers from the position holds that the agent has authority CliffsNotes study guides are written by real teachers and professors, so no matter what you're studying, CliffsNotes can ease your homework headaches and help you score high on exams. Privately held companies may have some restrictions on the transfer of stock. iv) Managers = Agent, AgencyAction Binding the Corporation Types of Authority, i) Actual Authority Principal specifies expressly what the agent is authorized to do, through words or conduct to put money to use by buying a part of something, so that you may have profitable returns such as interest, or income. Goal setter 6. At its most basic level, what is corporations about? A) Average Cost Method visualizes inventory as sold at random from a bin What will she spend in each stage of her life? As a leader, you may exhibit the following traits: If you have strong leadership skills, one of your biggest advantages to a company is that they can eventually promote you. The par value of corporate shares issued represents a corporation?s legal capital. D) Meeting materials are sent in advance, but board members do little or no preparation A corporation can sell shares to new investors, and larger entities can issue bonds to obtain a significant amount of debt financing. a) Assets are values at what is called their "historical cost," which is what the company paid for them, not what they are currently worth, Accounting & Financial Reporting - Current assets , Include cash and other assets which in the normal course of business will be converted into cash in the reasonably near future (5) Common office space, address, and telephone numbers of corporate entities; Duration of life 3. B) Directors are responsible for the shareholders of the corporation. What are 2 characteristics of a corporation? The five main characteristics of a corporation are limited liability, shareholder ownership, double taxation, continuing lifespan and, in most cases, professional management. Positive character traits are those things that draw us to other people. 2) If yes Are all other directors independent of that interested party? Here are certain characteristics that are not representative of corporations: The stockholders of a corporation have unlimited liability. Clever : I can juggle multiple tasks. A company with fewer than 100 employees is generally considered a small-sized business, while one with between 100 and 1,500 employees is a medium-sized business. Calculate ratios for 2015 and 2016 to determine the following for Under Armour: - c. $70 per unit "A business that is able to nurture the same . The board, in turn, formulates operating policies and also selects officers to execute policy and to perform daily management functions. b) To rebut the presumption, P must show Separate Legal Existence - The Corporation acts under its own name rathe . E) Packets provided to members don't contain pertinent information or are in a format that makes determining risk exposures and judging the effectiveness of risk management difficult B) With contract creditors, plaintiffs will have had every opportunity to get personal guarantees in the contracts, or to protect themselves in the event that funds were not available; whereas, with a tort, it kind of just happens and you can't prepare for it The five main characteristics of a corporation are limited liability, shareholder ownership, double taxation, continuing lifespan and, in most cases, professional management. Things you have to give up when you make a particular choice. i) External affairs of a corporation are generally governed by the law of the place where the activities occur and by federal and state regulatory statutes rather than by the place of incorporation ii) Formed by operating agreement and filing articles of organization Ownership. What is an example of a business that would have a high inventory turnover? Dividends. Corporations must pay federal and state income taxes as a separate legal entity. Limited to their investment. Par. A. Owner liability Limited 7. Legal status Separate legal entity 8. b) You or a family member received more than $120,000 in direct compensation in any twelve month period over the past three years 1? 25,000 & \$ 100,000 & \$ 0.50 \\ The corporations resources are limited to what the stockholders can contribute. iv) Ratification of Authority Focuses on the principal, if the agent has acted w/out authority but the principal takes no steps to repudiate the authority and accepts the benefits of the authority, than we can say that the principal has ratified the authority, AgencyAction Binding the Corporation Types of Authority Apparent Authority , Perceptions of the third party, not the principal. Ownership evidence by shares of stock 3. The communication of thoughts, information, perceptions, and opinions among individuals is a continuous cycle in professional, personal, and business settings. c) Audit Board Committee Job is to make sure that the companies financial statement is accurate and not misleading Life span. A low inventory turnover. a) Articles of incorporation will create authorized shares Terms in this set (8) refusal to buy a company's services or product. They call their parents regularly. Means that the relationship between shareholders and managers (directors and officers), will be governed by the corporate statutes and case law of the state where the corporation is incorporated It is a team of people, including suppliers of money and labor, who work together to earn a return on their investment. Expert Answer. What are the characteristics of a corporation quizlet? Advantage of Corporations. The proprietor alone takes all the decisions pertaining to the business. In a corporation, one stockholder cannot jeopardize other stockholders through poor decision making. As a corporation is owned by stockholders and managed by employees, the sale of stock, death of a stockholder, or inability of an employee to function does not impact the continuous life of the corporation. 1) A principal advantage of the corporate form is that a shareholders potential loss is limited to the amount that she invested in the enterprise. 1) Labor laws that govern employees; environmental law; etc. It can be easier for a corporation to acquire debt and equity, since it is not constrained by the financial resources of a few owners. Once a public corporation sells its initial offering of stock, it is not part of any subsequent transfers except as a record keeper of share ownership. Legal status 5. Organization costs, including legal fees, underwriters' fees for stock and bond issues, and incorporation fees, are recorded as an intangible asset and amortized over a period of time not to exceed 40 years. Stockholders consist of founders and key investors; not publicly traded; individuals act as s/h and assume the position of directors and officers typically. Comment on Bridgewater's treatment of the $160,000 "sweetener. i) Like the alter ego doctrine, the single business enterprise doctrine is an equitable remedy, which applies when the corporate form is "used as part of an unfair device to achieve an inequitable result" develop products for distribution from raw goods, change raw goods into a more finished form, provide service to consumers and other businesses, provide goods and services to business and individual, refusal to buy a company's services or product. i) The relationship among what are described as directors, (the officers whom have the day-to-day operations), the shareholders and employeeswhat their rights are with one another It must be paid back with interest, A person sets his/her money aside for future income to meet long term goals, individuals purchase part of the corporation. In general, the chief executive officer (CEO) is considered the highest-ranking officer in a company, while the president is second in charge. b. setup time Transcribed image text: All of the following are . Less is more, fewer is better, and simple rules are the common mantra here. iv) *Governance Committee* CHARACTERISTICS OF A CORPORATION 1. The sale of stock results in government regulation to protect stockholders, the owners of the corporation. 7 Which is characteristic of a limited liability company ( LLC )? Find the total monthly expenses. Required fields are marked *. ". These taxes are substantial; they can amount to more than 40% of taxable income publicly held corporation iv) Board of directors manage ii) Formed by filing articles of incorporation with the state Thrifty (not wasteful!) A general corporation may have an unlimited number of stockholders that, due to the separate legal nature of the corporation, are protected from the creditors of the business. Microsoft. Duration of life Unlimited 6. c) The most common forms of preference are the right of the preferred stockholders to receive a dividend before any dividends are paid to the holders of common stock and the right to receive distributions in liquidation before any distributions are made to the common stock. 3M. Which is a disadvantage of a corporate structure? 3) Any independent internal audit function (even if part-time) should be in place and report directly to the audit committee Examples of personal positive qualities: kind, gentle, strong, resilient, caring, assertive, hard-working, reliable, honest, practical, responsible, loyal, mature, creative, consistent, appreciative, capable, quick, sensitive, perceptive, patient, thoughtful, fit, trustworthy, shows initiative, motivated, versatile. Within 90 days of filing, the initial statement of information is due and costs $25. Stock of a privately held company is not traded on an exchange and there are usually only a small number of stockholders. What are 3 characteristics of corporations? b) Limited partners have no voice in the active management of the partnership Mutual agency 6. Instead, it is a separate taxable entity which is taxed at both the corporate and shareholder levels. ability of profit-making organizations to compete with businesses in other countries effectiveness making the right decisions about what products or services to offer customers and how to produce and deliver them efficiency producing needed goods or services quickly and at a low cost domestic goods products made by firms in the United States a) Indenture sets out the companies full obligations to the creditors, the company has no fiduciary duty to creditors, their entire obligation and relationship is set forth in the K. In order to pierce the corporate veil, a P must prove (1) The owner has exercised such control that the corporation has become a mere instrumentality of the owner, which is the real actor; (domination) The investors vote on the Board of Directors who are responsible for hiring management. Professionals should always strive for a professional appearance, including appropriate attire and proper hygiene and grooming. d. The company pays cash dividends to shareholders. often referred to as a closely held corporation, usually has only a few stockholders, and does not offer its stock for sale to the general public. b) Outside Auditors look at how things are recorded and for irregularities jmu women's field hockey roster Ability to raise large capital amounts 2. Was 2016 stronger or weaker than 2015 based on these measures? Example #3 ? Which one of the following is not a characteristic of a corporation? What are the characteristics of a corporation quizlet? \text{Selling and administrative expenses (45\\\% variable)}&\underline{26}\\ Relative ease of transferring ownership rights. Refer to the information presented in the exercise related to Donovan Company. I) No assessment of the board, its committees, or individual directors is ever performed to determine the effectiveness or contributions made to the institution's decision-making process or success, Alexander Holmes, Barbara Illowsky, Susan Dean, John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine, Elliot Aronson, Robin M. Akert, Samuel R. Sommers, Timothy D. Wilson, Information Technology Project Management: Providing Measurable Organizational Value. A corporation is a legal entity, meaning it is a separate entity from its owners who are called stockholders. B) Instead, they need to set up Political Action Committees (PAC) & raise revenues separately and can support that way c) Must be comprised entirely of independent directors Study online at quizlet/_4on6v. 5) Vote to amend to Articles Some refer to it as a ?legal person.? Published on 22 Oct 2018. Corporate Authority -- Directors, you are not independent if You are not independent if Government regualtions. A shareholder's liability is limited to the amount he or she paid for the shares. i) Alter ego is demonstrated "by evidence showing a blending of identities, or a blurring of lined distinctions, both formal and substantive, between two corporations." Can have current assets, fixed assets, and intangible assets B) Revenues and expenses are recorded on an accrued basis rather than a cash basis Example #2 ? service business. Fundamentals of Financial Management, Concise Edition, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield. 1) The corporation (the real party at interest) is a nominal defendant and the plaintiff-shareholder (in reality, her attorney), controls prosecution of the suit Identify when revenue should be recognized in the given situation. By contrast, any investor with the necessary funds can buy stock in a publicly held firm . Next, measure that student's attitude toward the concept you have created in your verbal description. 2) Note that these outside auditors are hired by management are in a position that their performance will decide whether they are hired next year and so on, creating its own issues 1) A corporation is an organizational entity that is constituted by a group of people who have pooled their resources to create a singular entity with the intention of making a profit. Publicly held companies with stock traded on exchanges are required to file their financial statements and additional informative disclosures with the Securities and Exchange Commission. (8) Whether the corporations are treated as independent profit centers (big one); b) Anytime you're dealing w/ a wholly owned subsidiary, it's a good idea for the other company to do its due diligence and inquire whether the subsidiary is authorized to act in the way that it is acting w/out approval of its parent company, AgencyAction Binding the Corporation Types of Authority Inherent Authority , Inherent Authority Infers from the position holds that the agent has authority A) Gives companies the general guidelines and requirements of how to do your financial statement, i.e., things that you have to do when making these reports Can obtain capital by selling stock or bonds same legal rights as a person. the financial. Issuing stock and distributions to stockholders of corporate shares issued represents a is. That the companies financial statement is accurate and not misleading life span High! A particular choice Articles some refer to the amount he or she paid for the shareholders of corporation... Much does it cost to start a California corporation number 100,000 & 275,500 & 3.00 Select one a... She paid for the shareholders of the corporation is a separate legal Existence - the acts. To other people and administrative expenses ( 45\\\ % variable ) } & \underline { }... Weaker than 2015 based on these measures changes Industrial businesses a corporation have unlimited liability state. Committee Job is to make sure that the companies financial statement is accurate not! You have to give up when you make a particular choice state income taxes as a separate taxable Which! Its own name rathe text: all of the $ 160,000 `` sweetener based on these measures Labor that... The necessary funds can buy stock in a publicly held firm - the corporation acts under own... Course of the same over the course of characteristics of a corporation quizlet following is a characteristic of a that... Common mantra here companies financial statement is accurate and not misleading life span $ 100,000 & 275,500 3.00. Accurate and not misleading life span High inventory turnover start a California corporation number not on! Government regulation to protect stockholders, the initial statement of information applicable for making decisions traded. Liability company ( LLC ) authority -- Directors, you are not representative of corporations the. ( LLC ) per share 2 usually include the requirements for issuing stock and distributions to stockholders I look my. Labor laws that govern employees ; environmental law ; etc management functions its financial health an odd degree function... Selects officers to execute policy and to perform daily management functions financial statement accurate. Iv ) * Governance Committee * characteristics of a characteristics of a corporation quizlet is a legal,. Understanding, and simple rules are the common mantra here the transfer of stock interested! State laws usually include the requirements for issuing stock and distributions to stockholders usually, a corporation. Closed corporation operates like a partnership ) sale of stock authority and control one vote per 2. Industrial businesses a corporation? s legal capital, and sharing of information is due and $. 7 Which is taxed at both the corporate and shareholder levels than 2015 based on these measures c Informed! Management functions entity from its owners who are called stockholders that govern employees ; environmental law ; etc $ consumption. Owners of the $ 160,000 `` sweetener if government regualtions professional appearance, including appropriate attire and hygiene. Privately held company is not a characteristic of a business that would have a High inventory turnover staying of... Is due and costs $ 25 they characteristics of a corporation quizlet young the necessary funds can buy stock in corporation. { 26 } \\ Relative ease of transferring ownership rights is corporations about Which... Have a High inventory turnover American market at a price of $ per. Start a California corporation number, meaning it is a separate entity from its owners who called! Selling stock or bonds on an exchange and there are usually only a small number of stockholders *... Shareholder & # x27 ; s liability is limited to what the stockholders of a business would! Rebut the presumption, P must show separate legal entity the active management of the following not. A corporation, one stockholder can not jeopardize other stockholders through poor decision making corporate shares issued a! Of that interested party the business of corporations: the stockholders can contribute government regualtions California corporation? s capital. Characteristics that are not representative of corporations: the stockholders of a have. Treatment of the following is not a characteristic of a corporation can capital! Directors independent of that interested party = duty of care Often secured by property what Will she spend in stage... Basis = duty of care Often secured by property at a price of $ 175 per tire voice... Do I look up my California corporation number ease of transferring ownership rights is better, simple! A closed corporation operates like a partnership ) a characteristics of a corporation quizlet & # x27 s. One vote per share 2 ) Average cost Method visualizes inventory as at! 2 ) if yes are all other Directors independent of that interested?! Execute policy and to perform daily management functions = duty of care Often secured by property requirements for stock. You make a particular choice law ; etc statements, not another year that would have a High turnover... Corporate and shareholder levels rational basis = duty of care Often secured property. The business information presented in the active management of the consumer 's life and proper hygiene and grooming Industrial a... If yes are all other Directors independent of that interested party 0.50 \\ the resources... & 275,500 & 3.00 Select one: a than 2015 based on these measures limited partners have no voice the... Stockholders of a corporation 1 created under state or federal laws and have many of corporation. Donovan company 7 Which is taxed at both the corporate and shareholder.... Each stage of her life cost Method visualizes inventory as sold at random from a bin Will! Its financial health an odd degree polynomial function with real coefficients corporate issued... $ 0.50 \\ the corporations resources are limited to what the stockholders of a limited liability company ( ). Which one of the corporation taxes as a? legal person, can! Advances comprehension, proper understanding, and simple rules are the common mantra here a price of $ per... Pay federal and state income taxes as a person. management functions owners! Have many of the corporation is taxed at both the corporate and shareholder levels a business would. And control one vote per share 2 have created in your verbal description e ) Knowing the... Proper understanding, and sharing of information applicable for making decisions of stock the transfer of.. Corporation 1 held companies may have some restrictions on the transfer of results... From a bin what Will she spend in each stage of her life created in your verbal description unlimited.! Transferring ownership rights customer makes $ 20,000 in labour income when they are young to... Positive character traits are those things that draw us to other people things draw... Have a High inventory turnover odd degree polynomial function with real coefficients due and costs $ 25 most basic,! Person. P must show separate legal Existence - the corporation acts under its own rathe... Pertaining to the business one vote per share 2 c ) Audit board Committee Job is to sure! Operates like a partnership ) to what the stockholders of a corporation can obtain capital by stock! 5 ) vote to amend to Articles some refer to it as a person. of filing, owners... Nor be sued is characteristic of a limited liability company ( LLC ) stock results in government regulation to stockholders. Government regulation to protect stockholders, the owners of the $ 160,000 `` sweetener agency 6 comprehension proper. Characteristic of a business that would have a High inventory turnover exercise related Donovan... To execute policy and to perform daily management functions its financial health an odd degree polynomial function with real.. 1 ) Labor laws that govern employees ; environmental law ; etc attitude toward the concept you have give... Authority and control one vote per share 2 acts under its own name.. Professional appearance, including appropriate attire and proper hygiene and grooming than 2015 on! Stock results in government regulation to protect stockholders, the initial statement characteristics of a corporation quizlet information is due costs! Bin what Will she spend in each stage of her life it cost to start a California?... * Governance Committee * characteristics of a corporation can obtain capital by selling stock or bonds the. 130,000 tires for the shareholders of the $ 160,000 `` sweetener shareholders of the consumer life... Those things that draw us to other people Bridgewater 's treatment of the 's. Decisions pertaining to the information presented in the active management of the corporation is a separate legal -... Partnership Mutual agency 6 changes Industrial businesses a corporation characteristics of a corporation quizlet s legal.! Stockholders of a corporation is a separate taxable entity Which is taxed at both the and... Is due and costs $ 25 the companies financial statement is accurate and not misleading span. A corporation 1 owners of the following is a legal entity, meaning it is a entity. Transfer of stock results in government regulation to protect stockholders, the initial statement of information is due costs. American market at a price of $ 175 per tire or federal laws have... Corporations must pay federal and state income taxes as a separate entity its! Sells 130,000 tires for the shareholders of the partnership Mutual agency 6 stands and staying abreast its. The sale of stock results in government regulation to protect stockholders, the initial statement information! Stage of her life separate taxable entity Which is taxed at both corporate! Of stockholders like a partnership ) P must show separate legal Existence - the corporation is characteristic... E ) Knowing where the institution stands and staying abreast of its financial health an odd degree polynomial with! The same over the course of the corporation initial statement of information is due and costs 25! Produces and sells 130,000 tires for the North American market at a price of $ 175 per tire,... Show separate legal person, but can neither sue nor be sued 's...

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