1.)corporations must have:

Question options:

	articles of incorporation and bylaws
	articles of incorporation and an operating agreement
	articles of organization and bylaws
	articles of organization and an operating agreement

2.)Which of the following is not true about an S Corporation?

Question options:

	owners can be foreign or domestic
	it is not double taxed
	it cannot have more than 100 members
	it can only have one class of stock

3.)"Piercing the veil" is a legal phrase used with regard to corporations and LLC's and refers to:

Question options:

	the ability of a court to treat the corporation or LLC as a sole proprietorship for liability purposes because of a failure by the business to adhere to legal requirements
	allowing the IRS to impose double taxation when the business fails to comply with IRS regulations
	a method of a member or shareholder being allowed to sue the business organization for a breach of fiduciary duty
	when a court changes the name of a business organization because the name chosen by that organization too closely resembles that of a previously approved business organization