1. Under the corporate form of business organization
MULTIPLE CHOICE 1. Under the corporate form of business organization a. a stockholder is personally liable for the debts of the corporation. b. stockholders’ acts can bind the corporation even though the stockholders have not been appointed as agents of the corporation. c. the corporation’s life is stipulated in its charter. d. stockholders wishing to sell their corporation shares must get the approval of other stockholders. 2 Stockholders of a corporation directly elect a. the president of the corporation. b. the board of directors. c. the treasurer of the corporation. d. all of the employees of the corporation. 3 Those most responsible for the major policy decisions of a corporation are the a. stockholders. b. board of directors. c. management. d. employees. 4 The chief accounting officer in a company is known as the a. controller. b. treasure...