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Question 30 (1 point) Listen Which of the following is true of a joint stock company? 1) it is a mixture of a corporation and a partnership. 2) It is a mixture of a corporation and a joint venture. 3) It is a mixture of a partnership and a sole proprietorship. 4) It is a mixture of a limited liability company and a sole proprietorship. 5) It is a mixture of a limited liability company and a joint venture. Question 35 (1 point) 15 Listen In a chain-style business operation, the franchisor provides the franchisee with the formula or necessary ingredient to manufacture a product. 18 21 1) True 2) False 15 Listen A corporation commits an ultra vires act when it 18 1) creates a contract outside the scope of its powers 21 2) hires incompetent managers 24 3) hires employees with criminal backgrounds 4) refuses to declare dividends 27 5) refuses to declare a stock split BO Question 38 (1 point) -- Question 38 (1 point) 15 Listen Private persons create corporations for private purposes. 18 1) public 21 2) private 24 3) foreign 4) domestic 27 5) publicly held 30 Question 39 (1 point) 33 Listen Which of the following is generally the only duty of an incorporator? 36 1) Prepare and distribute the share prospectus 39 2) Select the corporate board of directors 12 3) Select corporate officers 4) Assign a par value to company stock 5 5) Sign the articles of incorporation