FIGURE 20-1 Refer to Figure 20-1

question 36

Multiple Choice

FIGURE 20-1 Refer to Figure 20-1.Real GDP increased by approximately ________% between 1995 and 2010.

• A)9
• B)17
• C)35
• D)52
• E)75

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Definitions:

Close Corporations

A designation for corporations with a limited number of shareholders and operations that are more informally managed, often without a board of directors.

MBCA

stands for the Model Business Corporation Act, a model set of laws prepared to assist states in drafting their own corporation statutes.

Preincorporation Services

Services performed or actions taken in the name of a corporation prior to its legal formation.

Gratuitous Promise

A promise made without expecting anything in return, often not legally enforceable due to the lack of consideration.