Under the RMBCA,the Filing of the Articles of Incorporation by the Secretary

question 39

True/False

Under the RMBCA,the filing of the articles of incorporation by the Secretary of State is conclusive proof that the incorporators have satisfied all conditions precedent to incorporation so that a shareholder or creditor would be unable to challenge the existence of the corporation.

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Definitions:

Activity-Based Costing

A methodology in accounting that assigns costs to products or services based on the activities and resources that are consumed in the process of providing them.

Single Plantwide Overhead Rate

A method of applying overhead to products in which support department costs are combined with all other overhead costs, and the total overhead cost is then applied to the products using a single cost driver.

Multiple Production Department Rates

Costing rates used for different departments within a production process, reflecting the varying costs associated with each department.

Allocate

To allocate means to distribute resources or duties for a specific purpose or to particular entities.