Out 1 Marof 1.00 Which one of the following statements about forms of business organization is TRUE Select one: Om Registration is required to create al forms of business organization Ob A sole proprietor is exempt from laws governing business licences and income tax Oc Only corporations are vicariously table for the torts of its employees Od Both sole proprietors and partners face unlimited personal ability ton Question 2 which one of the following statements regarding Alberta corporations is TALSE? ist Moutal 100 Phy question Select one: O The shareholders own the assets of the corporation Ob Generally, shareholders owe no fiduciary duty to the corporation OC Pursuant to various provincial and federal statutes, directors may face personal liability Od A corporation comes into existence when the government issues its Certificate of Incorporation Question 3 Directors must perform all the following duties, except for one. Identify the EXCEPTION Marted out of 100 move Top Select one: O a Avoid conflicts of interest OD Act in the corporation's best interests Oc Act as a reasonable director would in discharging responsibilities d. Take personal advantage of opportunities that arise because of their positions as directors since an increase in their personat wealth enables them to more clearly focus on their director role Clear my choice Time left 0:55:37 Question 3 Directors must perform all the following duties, except for one. Identify the EXCEPTION No Marted out 1.00 Fremove ag Select one: O . Avoid conflicts of interest. Ob Act in the corporation's best interests. Oc Act as a reasonable director would in discharging responsibilities d. Take personal advantage of opportunities that arise because of their positions as directors since an increase in their personal wealth enables them to more clearly focus on their director role. Clear my choice Question 4 Which of the following statements is FALSE? Select one: Nyt wered Marked out of 100 Flag Question od Directors can be held personally liable for unpaid wages Ob Directors can be held personally liable for unpaid taxes of the corporation O c A director of a corporation owes a fiduciary duty to the shareholders of a corporation, od Directors generally owe a duty to the corporation to not be negligent. Question 5 Personal liability is imposed by law upon a director of a corporation as a direct consequence of certain events. But personal liability is NOT directly imposed as a consequence of Natur wered Marked out of 1.00 F Flag Question Select one: O a. The director committing Insider trading Ob. An employee causing a motor vehicle accident during a non work-related excursion O The director voting for a resolution which causes the corporation to violate applicable environmental laws. Od. The corporation failing to pay wages owed to its employees. Next page
