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QUESTION
49.Which of the following statements about professional corporations is false?
49.Which of the following statements about professional corporations is false?
a. A professional corporation's shareholders have personal liability for the obligations of the professional corporation.
b. A professional corporation is formed only by a filing with the secretary of state.
c. A professional corporation is managed by a board of directors, unless a statute provides otherwise.
d. A professional corporation's rigid management structure makes it inappropriate for some smaller professional practices.
