Question 1. What must be filed in order to form a limited liability company?

1. What must be filed in order to form a limited liability company?

2. Ten persons formed the Magic City Company, LLC for a term of 20 years. Shortly before the expiration of this period, the members held a vote on whether to continue the business for an additional five years. The vote was eight votes in favor and two against continuing. As a result:

3. When a corporate board declares a dividend, it is generally payable to all shareholders who owned shares:

4. Boards or Directors often delegate authority to smaller groups called committees. Which of the following board activities cannot be delegated to a committee?

5. The City of Maysville has formed a separate corporation to operate the water system for the city. This corporation is best described as what type of corporation?

6. Mallard Corporation is incorporated in Iowa and does business in Ohio. This corporation is:

7. Mary is planning to form a corporation to manufacture and distribute electric solar panels. She will sell the panels only in the Rocky Mountain states. These panels will be manufactured at two factories, one in Illinois and one in Florida. The headquarters of this company will be in Louisiana. In which state(s) could Mary incorporate this business?

8. Jan owns 800 of the 2,000 issued and outstanding shares of Jackalope Corporation. There are five members of the board of directors, three of whom are up for election at a shareholders’ meeting. If each share of stock is entitled to one vote, what is the maximum number of votes that Jan can cast for any one of the candidates for the positions on the board under cumulative voting?

9. At the time Corporation A was created, the management was concerned about potential hostile takeovers. In the articles of incorporation they included a provision that all of Corporation A’s contracts would expire if the ownership of Corporation A changed hands. This anti-takeover technique is best described as:

10. Corporation L is the target of a hostile takeover by Corporation O. Corporation L’s most valuable asset is its oil fields. To stop the takeover, Corporation L decides to sell its oil fields. This anti-takeover technique is best described as:

11. Martha started a flower shop as a sole proprietor. After one year, she was forced to close the shop because business was so bad. At that time, the business assets totaled $50,000, but the business liabilities totaled $125,000. Which of the following statements is true?

12. All of the following are positive effects of the Enron debacle except:

13. Jane and Joan decide to open a plumbing business. Both contribute money to the business, but because Jane has expertise in plumbing, she makes all the management decisions. Joan will not participate in much of the day-to-day operations. Jane and Joan will split net income equally. Jane and Joan make no filings associated with this business. This enterprise is:

14. Amy is a partner in a partnership. The partnership agreement states that if one of the partners dies, the business will continue with the remaining partners. Amy dies. Which of the following best describes this situation?

John works for a company that provides to all of its employees computers, access to a service provider that provides access to the Internet, and an email address. While at work, John often accesses the email account that he also uses at home. John’s employer would like to access John’s email to see if he is using company time for personal purposes. Which of the following is true?

Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.