A(n)________ Is the Basic Governing Documents of a Corporation Which

question 56

Multiple Choice

A(n) ________ is the basic governing documents of a corporation which must be filed with the secretary of state of the state of incorporation.

• A)debt security
• B)debenture
• C)certificate of authority
• D)articles of incorporation

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Definitions:

Installment Accounts

Installment accounts are credit accounts where the borrower repays the loan amount plus interest in regular payments over a set period.

Allowance Method

The allowance method is an accounting technique used to account for bad debts by estimating uncollectible accounts and reflecting them as an allowance for doubtful accounts on the balance sheet.

Direct Write-off Method

A method of accounting for bad debts where uncollectible accounts are directly written off against income at the time they are deemed non-collectable.