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Certified Business Manager (CBM) Questions 161–165 (page: 34)

Updated On: 10-Feb-2026

A separateness of corporation gives it which of the following advantages?

  1. A corporation can continue after its original owners and managers are deceased.
  2. Ownership interests can be divided into shares of stock.
  3. A corporation offers its owners limited liability.
  4. All of the above

Answer(s): D



The corporate charter includes which of the following factor?

  1. types of activities it will pursue
  2. amount of capital stock
  3. number of directors
  4. All of the above

Answer(s): D



Which of the following is NOT the type of partners?

  1. General partners
  2. Limited partners
  3. Dormant partners
  4. Legal partners

Answer(s): D



The formation of a partnership requires which of the following?

  1. Association two or more persons with legal capacity who agree to become partners
  2. Business for profit
  3. Co-ownership includes sharing of profits, losses and control of the business
  4. All of the above

Answer(s): D



The change in the relation of partners caused by any partner's ceasing to be associated with the carrying on of the business is called:

  1. Dissolution
  2. Disbanding
  3. Conclusion
  4. Suspension

Answer(s): A



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