The United Nations defines transnational corporations (TNCs) as:
A. doing business in the state in which they are incorporated.
B. doing business in the state of incorporation as well as neighboring states in the same country.
C. companies that have erased national allegiances and become itinerant firms that move investment and activity from nation to nation in search of profits.
D. parent firms that control the assets of affiliated entities in foreign countries including branches, subsidiaries, and joint ventures.
Answer: D. parent firms that control the assets of affiliated entities in foreign countries including branches, subsidiaries, and joint ventures.
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The XYZ Limited Partnership has two general partners: Smith and Jones. A provision in the partnership agreement allows the removal of a general partner by a majority vote of the limited partners. The limited partners vote to remove Jones as a general partner. Which of the following statements is true?
A. The limited partners are now liable to third parties for partnership obligations. B. Limited partners may vote to remove a general partner without losing their status as limited partners. C. By voting to remove a general partner, the limited partners are presumed to exercise control of the business. D. Limited partners may participate in management decisions without limitation if this right is provided for in the limited partnership agreement.
With five owners of a business, an entity purchase plan usually makes more sense than a cross-purchase plan
Indicate whether the statement is true or false