Quizzes fromBusiness Law. Please solve it ASAP

1. The main difference between an independent federal agency and an executive agency is that

a) executive agencies report only to congress

b) independent agencies are subject only to the authority of Congress

c) the heard of executive agencies can be fired by the President without giving good cause

d) the heads of independent agencies can be fired by the President without giving good cause

2. As a general rule, a corporation is formed by

a) approval of the Securities and Exchange Commission

b) the simple agreement of the investors

c) by commencing to do business with "inc." in the company name

d) issuance of a certificate of incorporation or charter by state

3. When a court "pierces the corporate veil" it

a) holds one or more shareholders liable for corporate debts

b) throws out the board of directors

c) takes control over the corporation

d) none of these

4. State securities laws

a) are forbidden under the federal supremacy clause

b) are referred to as red herring laws

c) are referred to as blue sky laws

d) none of these

5. A disclosed principal is one whose identity is:

a) known only to the agent and principal

b) unknown to the agent

c) unknown to the third parties to contracts entered into with the agent

d) known to third parties to contracts into with the agent