Question 30 (1 point) Listen Which of the following is true of a joint stock company? 1) it is a mixture of a corporation and a partnership. 2) It is a mixture of a corporation and a joint venture. 3) It is a mixture of a partnership and a sole proprietorship. 4) It is a mixture of a limited liability company and a sole proprietorship. 5) It is a mixture of a limited liability company and a joint venture. Question 35 (1 point) 15 Listen In a chain-style business operation, the franchisor provides the franchisee with the formula or necessary ingredient to manufacture a product. 18 21 1) True 2) False 15 Listen A corporation commits an ultra vires act when it 18 1) creates a contract outside the scope of its powers 21 2) hires incompetent managers 24 3) hires employees with criminal backgrounds 4) refuses to declare dividends 27 5) refuses to declare a stock split BO Question 38 (1 point) -- Question 38 (1 point) 15 Listen Private persons create corporations for private purposes. 18 ? 1) public 21 2) private 24 3) foreign 4) domestic 27 5) publicly held 30 Question 39 (1 point) 33 Listen ? Which of the following is generally the only duty of an incorporator? 36 ? 1) Prepare and distribute the share prospectus 39 2) Select the corporate board of directors 12 3) Select corporate officers 4) Assign a par value to company stock 5 5) Sign the articles of incorporation

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