LS311 Unit 10 Exam Study Guide The Unit 10 exam will be comprised of 25 multiple choice or true/false questions. It mostly covers reading material from Chapters 25 and 26. There are a few questions...

Answer the questions on exam


LS311 Unit 10 Exam Study Guide The Unit 10 exam will be comprised of 25 multiple choice or true/false questions. It mostly covers reading material from Chapters 25 and 26. There are a few questions from Chapters 23 and 24 from Unit 9. You will have 1.5 hours to complete the exam. You may wish to review the following in preparation for the exam. You may use the study guide, your notes, and the textbook during the exam. Good luck to you! · How is a corporation formed and what is listed in a corporation’s Articles of Incorporation? · A corporation is required to identify a specific person in the Articles of Incorporation, known as the registered agent, to receive legal documents on behalf of the corporation. · Who needs to be informed of corporate matters? Officers only? Directors only, or both? · What can a court do if anything when shareholders are deadlocked? · Can a corporation refuse a shareholder’s request to inspect corporate records? If so, under what circumstances? · If a person is on a corporation’s shareholder records, can that person vote? · Do states have antifraud provisions covering securities? · Who elects directors after the first board of directors is chosen? · If someone willfully violates the Sarbanes-Oxley Act of 2002, what can happen? · How can investment companies pay dividends to their investors? · What type of voting is designed to allow minority shareholders representation on the board of directors? · What is required for a professional corporation? · What is meant by “piercing the corporate veil?” · What is a stock warrant? · What is watered stock and par stock? · Which corporations must register with the SEC? · What are the typical powers of corporate officers? · What actions of the corporation must be approved by the shareholders? · What is the business judgment rule? · What are the rights and duties of directors of a corporation? · What is a stock certificate? · Be familiar with a corporate director’s duty of loyalty. · What is a shareholder’s derivative lawsuit? · What is the purpose of a joint venture? · What is a sole proprietorship? · In a partnership, what is the liability of each partner for the debts and liabilities of the partnership? · What constitutes a limited partnership? · What is an LLC and how is this entity taxed?