1. A corporate agent is
A. someone sent to spy on the competition.
B. an employee or subcontractor who deals with third parties such as the public on behalf of the corporation.
C. any fiduciary.
D. a shareholder who doesn't work for the corporation.

2. Which of the following is true of corporations?
A. The directors must approve the hiring and firing of all employees.
B. The shareholders hire the officers.
C. The shareholders elect the directors.
D. The officers appoint the directors.

3. Martha and Lewis form a business. They are governed by articles, bylaws, boards of directors and corporate officers. However, they do not have shareholders. Their organization is a(n)
A. limited partnership.
B. nonprofit corporation.
C. for-profit corporation.
D. LLC.

4. Shareholders can
A. hire employees.
B. hire and fire officers of the corporation.
C. be board members or corporate officers.
D. never vote on major company issues.

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