Larsa Corp. is an incorporated business with two shareholders, Larisa and Samuel. They have been the only two shareholders since incorporation. Unfortunately, due to illness, Samuel recently died. Which of the following statements regarding the corporation is correct?

a) With the death of Samuel, Larisa will become the sole shareholder.

b) With the death of Samuel, the corporation will continue to exist but will have new shareholders.

c) With the death of Samuel, the corporation will cease to exist because one of the shareholders died.

d) With the death of Samuel, Larisa will become solely responsible for the liabilities of the corporation.

Molly holds common shares in Globe Co. Her friend Jenny, after learning about Molly's share ownership, decided to also purchase shares in Globe Co. However, Jenny purchased preferred shares. Which statement regarding the rights Molly and Jenny have as shareholders is correct?

a) Molly has the right to vote; Jenny will generally not have the right to vote.

b) Jenny receives dividend payments every year without exception; Molly may not receive dividends every year.

c) Molly is paid before Jenny when dividends are declared.

d) Jenny is entitled to dividends; Molly is not entitled to dividends.

Which of the following scenarios reflects the work of an independent contractor?

a) Marty is hired by Stock Co. to process accounts payables for the company. Marty works at the main office of Stock Co.; reports to Henry, his supervisor, who reviews and approves his work; and uses a computer supplied by Stock Co. Marty plans out his own day-to-day tasks based on the workloads he experiences on a daily basis.

b) Connie is hired to provide a presentation to Odyssey Corp. staff. Connie is told the presentation topic but develops and delivers the presentation as she chooses. Connie is paid a flat fee for the presentation, regardless of the time it took her to prepare.

c) Dinesh was hired by Kick Co. The company pays premiums on behalf of Dinesh under the Employment Insurance Act and makes contributions under the Canada Pension Plan (CPP).

d) Doris was hired by Society Inc. to do fundraising on behalf of the company. She works in Society Inc.'s office, receives a salary, and bears no financial risk in her work. Doris manages her day-to-day schedule basis and plans meetings with donors on the basis of their mutual availability.

Which statement correctly reflects employment law?

a) Janet suddenly becomes seriously ill and is unable to report to work for one week. Her employer is justified in terminating her based on her unplanned absence.

b) Antonio was hired to work at 404 Inc., a new technology company. After two months of employment, 404 Inc. has become unhappy with Antonio's performance. The best course of action for 404 Inc. is to terminate Antonio without notice or severance.

c) Raymond worked for a garden centre that operates on a seasonal basis. Severe storms damaged its greenhouse, which limited the available work. As a result, Raymond was laid off with just cause.

d) Debra worked as a cashier for Doormart. A year after she started, her supervisor discovered that Debra was stealing money from the cash register. As Debra breached the trust Doormart placed in her, and handling cash is integral to her job as cashier, she was dismissed with just cause.