Question

Rita and Susan want to form and do business as Trips & Travel Agency, Inc. They will serve as the firm's directors and officers, and will initially hold all of the stock in the company.

A corporation is owned by:

A) the board of directors.
B) the officers.
C) the employees.
D) the shareholders.

Answer 1

D) the shareholders.

Step-by-step explanation:

A corporation is a type of business ownership where the enterprise is a separate legal entity from its founders. The value of a corporation is subdivided into smaller units called shares, stock, or equity. The capital that Individuals or institutions contribute intending to form a corporation is their share contribution.

Share Contributors are called shareholders and are the owners of a corporation. Rita and Susan will hold all the stock, meaning they will own trips and travel agency, inc. As the owners, Susan and Rita will be the only shareholders.