Hailey and Ike Hold the First Organizational Meeting of Java

question 38

Multiple Choice

Hailey and Ike hold the first organizational meeting of Java Kiosk Corporation.Probably the most important function of this meeting is

• A)adopting Java's bylaws.
• B)agreeing on Java's purpose.
• C)drafting Java's articles.
• D)obtaining a charter for Java.

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Definitions:

Dividends

Payments made to shareholders out of a corporation's earnings.

Shareholders

Owners of shares in a corporation, holding a portion of the company's stock and thus a claim on its assets and earnings.

Income Taxes Payable

This represents the amount of income taxes a company owes to the government that has not yet been paid.

Income Tax Expense

Income tax expense represents the amount of money a company expects to pay in taxes based on its taxable income for the current fiscal year.