Who can own a professional corporation?
Who can own a professional corporation?
In a California professional medical corporation, at least 51% of the shares must be owned by a licensed physician or surgeon, and only up to 49% of the outstanding and issued shares may be held by a (1) doctor of podiatric medicine; (2) psychologist; (3) registered nurse; (4) optometrist; (5) marriage, family, and …
What are the advantages of a close corporation?
Pros of Close Corporations
- Fewer formalities. The most obvious advantage of a close corporation is fewer rules to follow.
- Limited liability. In general, shareholders of a close corporation are not personally liable for the business’s debt.
- More shareholder control.
- More freedom.
Which characteristic of a corporation is a disadvantage?
The disadvantages of a corporation are as follows: Double taxation. Depending on the type of corporation, it may pay taxes on its income, after which shareholders pay taxes on any dividends received, so income can be taxed twice. Excessive tax filings….
Which is a unique characteristic of a corporation?
The five main characteristics of a corporation are limited liability, shareholder ownership, double taxation, continuing lifespan and, in most cases, professional management.
What are the four basic rights of stockholders?
Common shareholders are granted six rights: voting power, ownership, the right to transfer ownership, dividends, the right to inspect corporate documents, and the right to sue for wrongful acts.
Which is a unique characteristic of a corporation quizlet?
Which is a unique characteristic of a corporation? A corporation is a separate legal entity. A corporation pays taxes only on dividends.
What are 2 characteristics of a corporation?
Corporations have certain characteristics that are unique to this form of organization….These characteristics are as follows:
- Capital acquisition.
- Dividends.
- Double taxation.
- Life span.
- Limited liability.
- Ownership.
- Professional management.
- Separate entity.
What is the definition of a corporation?
A corporation is a legal entity that is separate and distinct from its owners. 1 Corporations enjoy most of the rights and responsibilities that individuals possess: they can enter contracts, loan and borrow money, sue and be sued, hire employees, own assets, and pay taxes.
Which of these are characteristics of a corporation quizlet?
Terms in this set (8)
- Separate Legal Existence. Corporation acts under its own name rather than in the name of its stockholders.
- Limited Liability of Stockholders. Limited to their investment.
- Transferable ownership rights.
- Ability to Acquire Capital.
- Continuous Life.
- Corporate managment.
- Government regualtions.
- Additional taxes.
Who is responsible for the major policy decisions of a corporation?
Directors. The board of directors sets policy for the corporation and makes major financial decisions. Among other things, the directors: authorize the issuance of stock.
Why were American Protestants afraid of increased Catholic immigration quizlet?
American Protestants were prejudiced against Catholics because they believed they wouldn’t serve as good American democrats because they followed the authority of the Pope. Fear that political bosses could manipulate the immigrant vote. *Fear that immigrants would take jobs and drive down wages.
Where were most early railroads in American history built?
APUSH Ch 14 & 15
| Question | Answer |
|---|---|
| The canal era of American history began in 1817 with the construction of the | Erie Canal New York |
| Construction of the Erie Canal | forced some New England farmers to move or change occupations |
| Most early railroads in the United States were built in the | North |
When the Irish flocked to the United States in the 1840’s they stayed in the larger seaboard cities because they?
When the Irish flocked to the United States in the 1840s, they stayed in the larger seaboard cities because they were too poor to move west and buy land. When the “famine Irish” came to America, they mostly remained in the port cities of the Northeast.
In what way did loyalty to the United States factor into anti Catholic sentiment during the 1800s quizlet?
Some Americans saw an allegiance to the Roman Catholic Pope as an allegiance to a foreign political leader, which meant the loyalty of Catholics could never lie with American leaders. These non-Catholics believed a lack of loyalty to US political ideas and leaders by Catholics would undermine the democratic system….
Why did nativism become so strong in the mid 1800s?
Why did nativism become so strong in the mid-1800’s? Because there were so many Anti-Catholic sermons and immigrants such as Catholic Irish and German immigrants arrived, it led to the rise of nativism or discrimination towards foreigners.
How did nativists react to immigration in the late 1800s?
Nativists reacted badly to immigration, they were against it and wanted to limit the number of immigrants coming into the US. What were conditions like in the tenements? Conditions ere very poor in the tenements they were unhealthy and sometimes dangerous. How was education improved in the late 1800s?