9254 AM Sat Dec 18 bbhosted.cunyedu Remaining Time: 1 hour, 05 minutes, 57 seconds. v Question Completion Status: the only owner of the property. 'I .8 points Save Answer QUESTION 37 Before a corporation can offer securities to the public for purchase, it must provide potential investors with O a. money. 0 he license. 0 C. a prospectus. 0 d. a tombstone ad. 1 .8 points Save Answer QUESTION 38 The federal government cannot prevent a corporate merger or takeover even if the resulting company would be so large that it would harm competition in the relevant market for the company's products or services. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Close Window Save and Submit 9254 AM Sat Dec 18 bbhosted.cuny.edu Take Test: B... C Remaining Time: 1 hour, 06 minutes, 01 second. s Question Completion Status: .3 pOIntS Save Answer QUESTION 39 Alex les a lawsuit against Cement Company. Before the lawsuit is resolved, Cement merges with Bridge Corporation, with Bridge absorbing Cement. After the merger, liability resulting from Alex's lawsuit, if any, belongs to O a. Cement. O b.Alex. O C. no one. 0 d. Bridge. 1 .8 points Save Answer QUESTION 40 Three partners vote unanimously to dissolve their partnership and the partnership's assets are liquidated, all debts are paid, and the remainder is divided among the partners. This results in O a. the termination of the partnership's legal existence. 0 b,the temporary suspension of the partnership's business. 0 c, nothing with respect to the partnership's existence. 0 d.the continuation of the partnership's business. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Close Window Save and Submit 9254 AM Sat Dec 18 bbhosted.cuny.edu Take Test: B... C Remaining Time: 1 hour, 06 minutes, 06 seconds. s Question Completion Status: 1 .3 points Save Answer QUESTION 41 Most corporations issue securities to O a. reduce their production costs. 0 b. reduce their production costs. 0 c. obtain nancing for business operations. 0 d.commit fraud. 1 .8 points Save Answer QUESTION 42 Apex Corporation issues a type of stock that provides holders with the right to receive payment upon dissolution of the corporation before common stockholders, and no right to vote. This type of stock is called: 0 a. cumulative stock. 0 b. bond stock. 0 c. equity stock. 0 d. preferred stock. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Close Window Save and Submit 9254 AM Sat Dec 18 bbhosted.cuny.edu Take Test: B... C Remaining Time: 1 hour, 06 minutes, 18 seconds. s Question Completion Status: 1 .8 points Save Answer QUESTION 47 American Car Company licenses ABC Dealer, Inc. to sell cars manufactured by American Car Company to the public. This is O a. not a franchise. O b, a distributorship franchise. O c. a manufacturing franchise. Q d, a chain-style franchise. 1 .8 points Save Answer QUESTION 48 Treasure, Inc. is a corporation with 50 shareholders, all US. citizens, but it is taxed like a partnership. Treasure, Inc. is O a. a tax-free entity. 0 b. a nonprofit corporation. 0 c, an S corporation. Q d. a benefit corporation. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Close Window Save and Submit 9254 AM Sat Dec 18 bbhosted.cunyedu Remaining Time: 1 hour, 05 minutes, 49 seconds. s Question Completion Status: . d, sells her stock as soon as the merger is announced. 1 .8 points Save Answer QUESTION 35 To resist a takeover attempt, Target Co. offers new shares to existing shareholders at a discount, in an attempt to make the takeover more costly. This type of takeover defense is often referred to as O a. a PacMan defense. 0 b.greenmail. O C, a poison pill. O d.a white knight defense. 1 .8 points Save Answer QUESTION 36 Each partner is permitted to sell partnership property, such as vehicles and real estate, as if he or she was the only owner of the property. 0 True 0 False 1 .8 points Save Answer Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Close Window Save and Submit 9:54 AM Sat Dec 18 bbhosted.cunyedu Remaining Time: 1 hour, 06 minutes, 24 seconds. a Question Completion Status: QUESTION 49 A corporation with few shareholders that operates in a manner similar to a partnership is referred to as a close corporation. 1 .8 points Save Answer QUESTION 50 Directors are elected by the shareholders of the corporation. 1 .8 points Save Answer QUESTION 51 The business judgment rule can protect officers or directors from liability to the corporation or its shareholders for a poor decision if there was a reasonable basis for the decision and the decision was made in good faith Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Close Window Save and Submit 9:54 AM Sat Dec 18 bbhosted.cunyedu Remaining Time: 1 hour, 06 minutes, 13 seconds. e Question Completion Status: QUESTION 45 Jose, a director of Tech Corporation, learns that Tech has developed a computer chip that is faster than any other computer chip. Jose buys 1,500 shares of Tech stock. He then tells Kim about the new chip, and she purchases 500 shares. Kim is aware that Jose works for Tech Corp. After the new chip is announced publicly, the price of Tech stock increases, and Jose and Kim sell their shares for a large prot. Under the Securities Act of 1934, liability may be imposed upon 0 a. Jose and Kim. 0 b. neither Jose nor Kim. 0 c. Jose only. 0 d. Kim only. 1 .8 points Save Answer QUESTION 46 When a franchisor seeks to terminate a franchise that is owned by a franchisee, the law generally emphasizes O a. the right of the franchisee to continue its business. 0 b,the fact that the franchisee voluntarily contracted with the franchisor. O c. the importance of good faith and fair dealing between the franchisor and franchisee. O d,the right of the franchisor to conduct its business. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Close Window Save and Submit 9254 AM Sat Dec 18 bbhosted.cuny.edu Take Test: B... C Remaining Time: 1 hour, 06 minutes, 09 seconds. as Question Completion Status: 1 .8 points Save Answer QUESTION 43 Children's Hospital, Inc. is set up under Section 501(c)(3) of the IRS code and receives preferential tax treatment because of its charitable mission. Children's Hospital, Inc. is a O a. publicly-held corporation. 0 b,close corporation. 0 c, nonprofit corporation. 0 d. private corporation. 1 .8 points Save Answer QUESTION 44 Responsibility for the overall vision or direction of a corporation belongs to O a. the corporate officers and managers. 0 b.the shareholders. O c, the owners of the corporation. 0 d.the board of directors. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers Close Window Save and Submit