Corporations in BusinessOnline version Test your knowledge about corporations in the business world! by sarah ayyad 1 Corporations are not subject to any regulations or reporting requirements. Yes No 2 Corporations do not have a board of directors. Yes No 3 Corporations have limited liability, meaning that shareholders are not personally responsible for the company's debts. Yes No 4 Corporations are subject to more regulations and reporting requirements than other types of businesses. Yes No 5 Corporations can have a board of directors that oversees the company's operations. Yes No 6 Corporations can only be owned by individuals. Yes No 7 Corporations are owned and controlled by a single individual. Yes No 8 Corporations can be structured as for-profit or non-profit organizations. Yes No 9 Corporations can be sued or sue others in their own name. Yes No 10 Corporations cannot be publicly traded on stock exchanges. Yes No 11 Corporations can be owned by individuals, other corporations, or even governments. Yes No 12 Corporations can only exist for a limited period of time. Yes No 13 Corporations cannot be sued or sue others. Yes No 14 Corporations can exist indefinitely, even if the owners change. Yes No 15 Corporations can issue stocks to raise capital. Yes No 16 Corporations can only be structured as for-profit organizations. Yes No 17 Corporations are legal entities that are separate from their owners. Yes No 18 Corporations can be publicly traded on stock exchanges. Yes No 19 Corporations are not separate legal entities. Yes No 20 Corporations have unlimited liability, meaning that shareholders are personally responsible for the company's debts. Yes No
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