Bill and Ted Decide to Set Up a Small Company

question 56

Multiple Choice

Bill and Ted decide to set up a small company to invest in real estate.Before incorporating they find a prime piece of real estate that is suitable for investment purposes.They want to buy the property through a limited company but have not as yet incorporated.They attend at a lawyer's office for purposes of filing articles of incorporation.The lawyer asks them what name they plan to use for the corporation.Bill immediately says "Bill and Ted's Excellent Investments Inc.".The lawyer advises them that she will need some time to have the name approved through the appropriate government office.Bill tells the lawyer there is no time to wait for the name approval.In these circumstances Bill and Ted can

• A)Tell the real estate agent to "hold off" for a couple of days until the name is approved.
• B)Use a "number name" where the registry simply assigns a number to the new corporation and worry about the name change later.
• C)Opt to form a partnership instead.
• D)File a "request to delay name of corporation form" at the time of filing the articles of incorporation.
• E)Hire a new lawyer.

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Definitions:

Recessive Genetic Disease

A disease caused by mutations in both copies of a gene pair in an individual; inheriting only one mutated gene typically results in being a carrier without showing disease symptoms.

Chromosomes 21

One of the 23 pairs of chromosomes in humans; an abnormality in the number of chromosome 21 leads to Down syndrome.

Genetic Disorder

A disease or condition caused by an abnormality in an individual's DNA, ranging from small mutations to large chromosomal changes.

Codominance

A genetic scenario where two alleles of a gene pair in a heterozygote are fully expressed, resulting in offspring with a phenotype that is neither dominant nor recessive.