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Match the Corporate Classifications to the Descriptive Statements That Best

Question 62

Matching

Match the corporate classifications to the descriptive statements that best describe them

Premises:

Responses:

Companies that do not issue stock or operate for profit.

public corporations

As viewed by a state, companies operating within that state that are incorporated in another state.

open corporations

Companies that do not allow the sale of their stock to the general public.

domestic corporations

Companies owned or operated by governmental units.

nonstock companies

Companies that issue stock and operate for profit.

stock companies

As viewed by that state, companies that are incorporated in the state.

foreign corporations

Companies whose stock is available for purchase by the public.

closed corporations

Premises:

Companies that do not issue stock or operate for profit.

As viewed by a state, companies operating within that state that are incorporated in another state.

Companies that do not allow the sale of their stock to the general public.

Companies owned or operated by governmental units.

Companies that issue stock and operate for profit.

As viewed by that state, companies that are incorporated in the state.

Companies whose stock is available for purchase by the public.

Responses:

public corporations

open corporations

domestic corporations

nonstock companies

stock companies

foreign corporations

closed corporations

Correct Answer:

Premises:

Responses:

Companies that do not issue stock or operate for profit.

As viewed by a state, companies operating within that state that are incorporated in another state.

Companies that do not allow the sale of their stock to the general public.

Companies owned or operated by governmental units.

Companies that issue stock and operate for profit.

As viewed by that state, companies that are incorporated in the state.

Companies whose stock is available for purchase by the public.