BA 2900 Introduction to Business MIDTERM EXAM QUESTIONS & ANSWERS

BA 2900 Introduction to Business MIDTERM EXAM QUESTIONS & ANSWERS
1. Multiple Choice: Which of the following is a key characteristic of
a corporation?
 a) Limited liability for shareholders
 b) Unlimited life
 c) Transferability of shares
 d) All of the above
 Correct Answer: d) All of the above
 Rationale: A corporation is a legal entity that is separate from its
owners, providing limited liability to its shareholders, an unlimited
life that does not end with the death or withdrawal of its
shareholders, and transferability of shares, which allows for the easy
exchange of ownership.
2. Fill-in-the-Blank: The process of planning, directing, and
controlling a company's financial activities is known as
____________.
 Correct Answer: Financial Management
 Rationale: Financial management is crucial for making decisions
that will ensure the company's financial health, such as budgeting,
forecasting, and investments.

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