A corporate director can be held individually liable for a crime he committed on behalf of a corporation, but he cannot be held liable for crimes committed by his or her subordinates.Group of answer choicesTrueFalse

A corporation may be held criminally responsible for crimes committed by its employees if the employees acted within the scope of their employment and for the benefit of the corporation.Group of answer choicesTrueFalse

Individuals who commit crimes while acting in corporate capacity may be subject to personal criminal liability.Group of answer choicesTrueFalse

Limited liability for a company applies to the:Question 6Select one:a.managers.b.board of directors collectively.c.individual directors.d.shareholders

Problem with individual liability is/are:Group of answer choicesThe individual may hold a high-level position and his conviction can affect the entire company.It's difficult to identify responsible person within corporate structure.Business decisions are usually collective action of numerous corporate employees.All of these.

Which of the statements is incorrect?Group of answer choicesStockholders are liable only to the extent of their investment as represented by the shares subscribed by them.A corporation is created by law or by operation of law.A stockholder has the right to transfer his shares without prior consent of the other stockholders.A stockholder is liable personally for corporate debts to third persons.