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Which of the following statements always apply to corporations? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Unlimited liability unchecked Limited life unanswered Ownership can be transferred without affecting operations checked Managers can be fired with no effect on ownership checked

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Answer:

  • Ownership can be transferred without affecting operations.
  • Managers can be fired with no effect on ownership

Explanation:

Corporations usually have their shares traded without it affecting them. This is because the shareholders are usually not involved in the running of the business and even if they were, their shares have nothing to do with business operations. If they sell them, business goes on as usual.

Likewise management can be retrenched without any effect on the shareholders because the two sectors of the business are not interrelated such that a manager being fired will impact ownership. Company will simply replace the position and continue operations.

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