8.Identify the most accurate statement. A. A franchise disclosure document (FDD) is a egal document which is presented to B. A franchisor must submit its FDD to federal or state regulators who review the FDD prospective buyers of franchises in advance of sale and as part of the pre-sale disclosure process. and advise prospective investors concerning the viability of the franchisor and the desirability of investing in the franchise C The offering of franchises is governed by the Securities and Exchange Commission. D. The offering of franchises is governed exclusively by federal law E. A and D are true. 9. Piercing the corporate veil refers to which of the following? A.In certain situations, courts will ignore the limited liability status of a corporation or B. For public companies, the identify of corporate directors and officers can be C The liability of general partners is joint and several. After the assets of a general LLC and hold its officers, directors, and shareholders or members personally liable for its debts. When this happens, it is called piercing the corporate veil. determined from filings with the Federal Trade Commission. When this happens,t is called piercing the corporate veil partnership are exhausted, the assets of the general partners are at risk. This exposure is called piercing the corporate veil. D. In the event of a corporate liquidation, preferred stockholders are entitled to payment only after common stockholders receive pro rata returns on their investments. This potential for loss on the part of preferred stockholders is called piercing the corporate veil. 10. Identify the most accurate statement. A. Prtnerships are taxable at the entity level. B. Although ordinarily taxable at the entity level, a partnership may elect to avoid C. A and B are both true D. None of the foregoing statements is true. taxation at the entity level by making an appropriate filing with the state authorities