Asked by Claire Stough on Jun 14, 2024
Verified
The_______ of a professional corporation share in the profits and losses of the firm in
Proportion to how many shares they own.
A) partners
B) shareholders
C) responsible billing partners
D) sole proprietors
Shareholders
Individuals or entities that own shares in a corporation, giving them partial ownership of the company.
Professional Corporation
A legal structure allowing licensed professionals, such as lawyers, doctors, or accountants, to form a corporation with certain tax and liability advantages.
Partners
Individuals who share ownership and responsibilities in managing a business or organization.
- Recognize the traits and consequences of professional corporations within the legal sector.
Verified Answer
YR
yousaf raeesJun 19, 2024
Final Answer :
B
Explanation :
In a professional corporation, the individuals who own shares in the company are referred to as shareholders. They share in the profits and losses of the firm in proportion to the number of shares they own.
Learning Objectives
- Recognize the traits and consequences of professional corporations within the legal sector.