In its filings with the State of Ohio, Soft Serve Ice Cream, Inc. states as its corporate purpose, “the distribution and sale of ice cream and other dairy products.” Seeing an opportunity to increase revenues, the chief executive approves the use of corporate funds to of Soft Serve to open a gaming venue called SS Gaming. This would be a case of: a. An ultra vires act b. Piercing the corporate veil c. Establishing a de facto corporation d. An alter ego of the corporation
In its filings with the State of Ohio, Soft Serve Ice Cream, Inc. states as its corporate purpose, “the distribution and sale of ice cream and other dairy products.” Seeing an opportunity to increase revenues, the chief executive approves the use of corporate funds to of Soft Serve to open a gaming venue called SS Gaming. This would be a case of: a. An ultra vires act b. Piercing the corporate veil c. Establishing a de facto corporation d. An alter ego of the corporation
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter15: S Corporations
Section: Chapter Questions
Problem 1BD
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Question
In its filings with the State of Ohio, Soft Serve Ice Cream, Inc. states as its corporate purpose, “the distribution and sale of ice cream and other dairy products.” Seeing an opportunity to increase revenues, the chief executive approves the use of corporate funds to of Soft Serve to open a gaming venue called SS Gaming. This would be a case of:
a. An ultra vires act
b. Piercing the corporate veil
c. Establishing a de facto corporation
d. An alter ego of the corporation
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