Not just anyone can be a director of an Ontario company. buildings, machinery, patents, copyrights, etc. A) bondholders, principals B) stockholders, bondholders C) agents, principals D) principals, agents Answer: D Diff: 1 Topic: 1.8 The Financial Management Setting: The Agency Model AACSB : 2 Ethical Understanding and Reasoning Abilities Hmwrk Questions: * Taken from "Prepping … The use of eminent domain power to take property is referred to by many terms and varies from state to state as well as internationally. Municipal courts have frequently decided in the same sense. A corporation is also commonly referred to as a "limited company" or just "company". 2) In agency theory, the owners of the business are referred to as _____, and the managers are referred to as _____. It will generally manage all of the common property affected by the owners corporation, including services, which is not affected by a limited owners corporation. A C corporation is distinguished from an S corporation, which generally is not taxed separately. Understanding Corporations and CSR. No one … Piercing the veil can become an issue for businesses of all sizes. But, as we describe in Part II, none of them has been successful. Sometimes, private corporations such as oil and gas companies, railroads or redevelopment authorities may be granted eminent domain power to construct projects providing a benefit to the public. Closely Held Corporation: A closely held corporation is any company that has only a limited number of shareholders; its stock is publicly traded on occasion but not on a … The most common of these, particularly for new startups, is the sole proprietorship. A C corporation has no limit on the number of shareholders, foreign or domestic. Corporations that are formed without a profit making purpose are called nonprofit, not_for_profit, or eleemosynary (charitable) corporations. Whereas some states require to have different numbers of directors depending on the number of owners. Referred to as a limited liability partnership, corporations are run by directors, officers and shareholders who all share a common interest in the business. Business Names. One of the most important features of a corporation is that, generally, its owners are … not the owners of the corporate property, and therefore not preju-diced by its confiscation and are, on the other hand, equally disentitled to pursue rights vested in the corporation itself." A corporation is an artificial entity created by or under the laws of a state. However, owners can report their share of profit and loss in the company on their individual tax returns. The absence of a human element in corporations made necessary the design of other mechanisms to limit corporate power. Since corporations are set apart from the company overseers, the owners, directors, officers and shareholders’ personal assets are protected from liability. Corporations provide a number of benefits, including tax shielding and limited liability. Although they may serve a public purpose, as a public utility does, they are owned by private persons rather than by the government. Frequently the directors of a company are also the owners of the company. Corporations also allow an unlimited number of stockholders, making it easier to bring in investors. The most common business entities are: sole proprietorships, including husband and wife joint ventures ; partnerships ; limited liability companies ; regular "C" corporations ; S corporation ; Each different entity choice brings its own set of advantages and disadvantages. 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