Question 60.5 out of 0.5 pointsMark and Riley live in Orlando and decide to open a souvenir shop. They incorporatetheir shop, Sunshine Gifts, Inc., in the state of Florida. In Florida, Sunshine Gifts would best be characterized as
Selected Answer:a domestic corporation.Answers:a foreign corporation.a domestic corporation.a native corporation.an alien corporation. Question 70.5 out of 0.5 pointsMany corporations choose to incorporate in Delaware. Which of the following is NOT an advantage to incorporating in Delaware? Question 80.5 out of 0.5 pointsThirteen sorority sisters decide to start a dog-walking business. They incorporate under the name Pro Canine Walkers, Inc., and advertise their services throughout the city in newspapers and on flyers they post. All stock is owned by the 13 principals, and none is offered to anyone outside the 13. This corporation would be classified as a Question 90.5 out of 0.5 pointsCJ and Danny have incorporated and obtained a $100,000 loan in their corporate name. The loan is payable with interest over five years. After paying on the loan
regularly for two years, the business falters due to the economy, and CJ and Danny default on the loan. Their business has no assets. Which of the following statements best describes CJ and Danny's liability in this case?
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- Fall '18
- Corporation, S corporation, public corporation