Civil Engineering Mcqs

Which is true about corporation ?
  • (A)  It is worse type of business organization.
  • (B)  The minimum number of incorporators to start a corporation is three.
  • (C)  Its life is dependent on the lives of the incorporators.
  • (D)  The stock holders of the corporation are only liable to the extent of their investments.
Which is true about partnership ?
  • (A)  It has a perpetual life
  • (B)  It will be dissolved if one of the partners ceases to be connected with the partnership
  • (C)  It can be handed down from one generation of partners to another
  • (D)  Its capitalization must be equal for each partner
In case of bankruptcy of a partnership________________?
  • (A)  The partners are not liable for the liabilities of the partnership
  • (B)  The partnership assets (excluding the partners personal assets) only will be used to pay the liabilities
  • (C)  The partners personal assets are attached to the debt of the partnership
  • (D)  The partners nay sell stock to generate additional capital