30._____ Generally shareholders of a corporation would enjoy limited liability for the debts

and obligations of the corporation. However, if the shareholders misuse the

corporation for improper purposes, or fail to follow the requirements, then a Court

may disregard the corporate entity, and hold the shareholder personally liable under

a doctrine commonly referred to as:

a. cumulative voting

b. preemptive rights

c. piercing the corporate veil

d. long arm statute

31._____ George and Martha formed White House Moving, Incorporated. WHM, Inc. has two

shareholders, three Directors, a President, Secretary and Treasurer. Generally,

broad policy making decisions of WHM, Inc. would be made by the:

a. shareholders

b. registered agent

c. board secretary

d. board of directors

32._____ The Directors of WHM, Inc. would be elected by the:

a. board of directors

b. shareholders

c. board secretary

d. registered agent