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the business
Denise Preston
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What are kinds of corporation?
There are 3 kinds: S corporation, C corporation and Limited Liability Company (LLC)
Why is a share of Oil and Gas Development Corporation an asset for its owner and a liability for OGDC?
Why is a share of OGDC is an asset for its owner and a liability for OGDC?
Describe the stockholders liability to creditors of a corporation?
A corporation's creditors usually do not be past the assets of the corporation to satisfy their claims. The most a stockholder can lose financially is the amount he or she invested.
What type of business structure liability is limited only to the assets of the business and does not extend to individuals?
Corporation
What are the differences between a sole proprietorship and limited liability corporation?
In a limited liability corporation, the company is not personally liable for it, and the owners and shareholders will not get personally sued, only the company will. It has a high start up cost, and it has a long life. Sole proprietorship's have a low start up cost, generally have short life spans, and are personally liable,
In a corporation assumes all liability?
the business
What is the responsibility of the Pension Benefit Guaranty Corporation?
If a company defaults on its retirement benefit obligations to its members or their dependents, the PBGC assumes liability.
Is Target Corporation a limited liability corporation?
No
Who assumes liability if an outside party wants to organize a pool party in the condominium building?
If the condominium corporation rents its pool to the public, then its rental agreement will specify liability coverage. If an owner hires a caterer to organize a pool party, again, the association probably requires an agreement that will specify liability coverage. If the corporation does not allow rental of the pool to the public, their pool is not a candidate for the birthday party.
Examples of a corporation?
general corporation Close corporation Limited Liability Corporation
What is a ltd corporation a c corporation or s corporation?
LTD stands for Limited Liability. Either type of corporation would qualify in that the owners' liability is limited.
Is exxonMobil a limited liability corporation?
Not exactly, ExxonMobile is a Limited Liability Company (LLC). An LLC is a company not a corporation.
What type of corporation is Harpo Inc?
limited liability corporation
What are the characteristics of a partnership?
If the partnership is a general partnership, all partners assume unlimited liability. However, if the partnership is a limited partnership, one or more of the partners assumes unlimited liability
What type of business has limited liability?
An LLC (Limited Liability Corporation).
Which of these is a major advantage of a corporation?
Limited liability is a major advantage of a corporation.
What are the characteristics of a business partnership?
If the partnership is a general partnership, all partners assume unlimited liability. However, if the partnership is a limited partnership, one or more of the partners assumes unlimited liability
