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QUESTION 3 Even though Sammy has a small business, he can make it a corporation if he files the necessary paperwork. O True O False

QUESTION 3 Even though Sammy has a small business, he can make it a corporation if he files the necessary paperwork. O True O False

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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QUESTION 3 Even though Sammy has a small business, he can make it a corporation if he files the necessary paperwork. O True O False QUESTION 4 Suppose that Sammy's business grows. He decides he wants to take some money for himself. One way to accomplish this is. . O A. Obtain a bank loan O B. Sell stock in the company with an initial public offering O C. Issue bonds for the firm O D. All of the above are ways that Sammy can increase his personal wealth. QUESTION 5 Suppose that Sammy sells stock in his company. Now he needs a board of directors. They will hire a CEO. What is the job of the CEO and the Board of directors? O A. To make the business as large as they can O B. To grow the wealth of the shareholders as much as possbile C. To hire as many employees as possible O D. All of the above
Transcribed Image Text:QUESTION 3 Even though Sammy has a small business, he can make it a corporation if he files the necessary paperwork. O True O False QUESTION 4 Suppose that Sammy's business grows. He decides he wants to take some money for himself. One way to accomplish this is. . O A. Obtain a bank loan O B. Sell stock in the company with an initial public offering O C. Issue bonds for the firm O D. All of the above are ways that Sammy can increase his personal wealth. QUESTION 5 Suppose that Sammy sells stock in his company. Now he needs a board of directors. They will hire a CEO. What is the job of the CEO and the Board of directors? O A. To make the business as large as they can O B. To grow the wealth of the shareholders as much as possbile C. To hire as many employees as possible O D. All of the above
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