Exam 36: Corporate Formation and Financing

Publicly held corporations are corporations run by the government.

Which of the following acts is seen as conclusive proof for the existence of a corporation?

Stock that permits a corporation to buy back the preferred stock at some future date is known as ________.

A corporation reimbursing its employees for expenses would fall under its implied powers.

The registered office in the articles of incorporation must be the same as the corporation's place of business.

________ is a general rule of corporate law that provides that generally shareholders are liable only to the extent of their capital contributions for the debts and obligations of their corporation and are not personally liable for the debts and obligations of the corporation.

A corporation in the state in which it was formed is referred to as a(n)________.

Which of the following criteria must be met for a company to be treated as an S corporation?

A corporation is dissolved upon the effective date of the articles of dissolution.

A(n)________ is a debt security with a maturity of five years or less.

What is the conversion right for preferred stocks?

Which of the following would be considered an express power of a corporation?

A corporation can be incorporated into several states.

Which of the following shares have the right to vote?

Incorporators cannot become shareholders of the corporation they are associated with.

Corporations formed under general incorporation laws cannot engage in businesses like banking.

An S corporation must pay federal income tax at the corporate level.

A ________ is a long-term unsecured debt instrument that is based on a corporation's general credit standing.

In debt securities, the corporation is the debtor and the holder is the creditor.

In case the corporation's assets are liquidated, the preferred stockholders are paid before common stockholders.