6.NONE7.A Corporation doing business outside the state in which it is chartered is known as what?A.General PartnershipB.Horizontal CorporationC.Domestic Corporation
D.Alien CorporationE.Foreign Corporation8.Michael Wong and Sanjay Patel, both lawyers start a law firm together. Both of them have unlimited liability for the debts of the business and the management of the firm is equally shared between them. This law firm is an example of a(n)?9.Which of the following is true of the distribution of profits earned by a partnership?10. Assure Pharmaceutical Corp. a private corporation sold its stock to raise the money it required for global expansion, as a result anyone could buy, sell, or trade stocks of the company. The process adopted by Assure Pharma Corp. to raise money is?11. Who is responsible for setting the long range objectives of a Corporation?A.Sole ProprietorsB.Preferred StockholdersC.Board of DirectorsD. CustomersE.External Auditors12. Sun Ray Foundation, a Corporation owned and managed by volunteers, supplies medicines and vaccines to impoverished people in Asia and Africa. Its focus is not on earning a surplus but on serving the community.
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- Corporation, Types of companies, C. Sole proprietorship