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6.
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Compare the advantages and disadvantages of raising capital for a corporation
through issuing shares. [LO 10.5]
Outline the advantages a private corporation would gain with a Unanimous
Shareholders Agreement. [LO 10.5, 10.6]
Briefly explain a franchise as a form of doing business and give an example. [LO10.7]
Briefly explain two reasons for carrying on a business in the following form:
a. A partnership [LO 10.4]
b. A corporation [LO 10.5]
c. A sole proprietorship [LO 10.2]
9. Discuss what joint and several liability in a partnership means and what steps you might take to limit
the partners' exposure to risk. [LO 10.4]
10. What is the duty owed by directors and officers to the corporation, and briefly describe a
situation that would illustrate it? [LO 10.6]

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