Before a coporation's termination becomes final, there will be a phase in which its assets are sold and the proceeds are used to pay its creditors. What term is used to describe this phase? Question 18 1 pts What business entity is formed and operated informally for a specific time or the duration of a specific project? D Question 19 1 pts What theory is used to prosecute insider trading in the event someone outside the corporation wrongfully takes corporate information not generally known to the public, trades on such information, and makes a profit? A shareholder of a corporation may vote his or her shares at a shareholder's meeting. However, if the shareholder desires, he may authorize another person to vote on his or her behalf by signing a document called, the Question 21 1 pts In the event a corporation takes action that exceeds its authority and is sued, what may the courts do to reach the shareholders and hold them personally liable? D Question 22 1 pts What type of business has a formation document called, "Articles of Organization" and calls its owners "members"? What form of business will license the use of a well-known business name, process, and/or operation in exchange for a fee? Question 24 1 pts Apple Foods Corp. ("Apple") combines with Sunlight Snacks Corp. ("Sunlight") and after all the proper steps are taken, a new third corporation called Tasty Treats, Inc. holds all the assets and liabilities of both Apple and Sunlight. Tasty Treats will conduct business in place of both Apple and Sunlight. What is the legal term for this combination? Question 25 1 pts What is the legal term for the termination of a corporation's existence? What is the takeover defense which involves a third party investing a large sum of money in the target corporation to help the target corporation withstand the takeover attempt? Question 27 1 pts What is the takeover defense that the Board of Directors creates to prevent the termination of directors and officers upon the takeover becoming effective? Question 28 1 pts Who are the two types of partners you will find in a limited partnership? limited partners general partners