In Addition to the Articles of Incorporation, a Corporation Needs

question 49

Multiple Choice

In addition to the Articles of Incorporation, a corporation needs detailed operating rules. These operating rules that are important enough for director's approval yet not contained in the Charter are called

• A) by- laws.
• B) work rules.
• C) Charter exhibits A, B, C, etc.
• D) standard operating procedures (SOP directory).
• E) the corporate operations roster.

---

Definitions:

Spot Bonuses

Immediate, unplanned rewards given to employees for exceptional performance or achievements.

Performance Standard

The expected level of performance that serves as a benchmark to evaluate an employee's job performance.

Incentive Payments

Financial rewards given to employees to encourage or reward them for achieving particular goals or performing at a superior level.

Entitlement

A right granted by law or contract, especially to financial benefits from the government.