Final Exam Review First Semester 24-25

Front

What is a corporation?

Back

a company authorized to act as a single entity with its own powers

Front

A privately held corporation is when...

Back

ownership is restricted to a small group of investors

Front

What is a "shareholder"?

Back

an owner of shares in a company

Front

A company has the same rights as an individual.

Back

True

Front

What are "stocks"?

Back

shares of ownership in a company

Front

A business owned by only one person

Back

Sole Proprietorship

Front

What is a key disadvantage of a sole proprietorship?

Back

Limited access to capital.

Front

Which term refers to the owner having full responsibility for company debts and obligations?

Back

unlimited liability

Tags

NCCTE.2019.BA10.01.02

Front

Which business structure is characterised by limited liability and separate legal identity?

Back

Corporation

Front

A venture that is owned by one individual.

Back

sole proprietorship