A Business That Chooses to Form a Corporation Must Have

question 48

True/False

A business that chooses to form a corporation must have a board of directors.In new small corporations, the board of directors and shareholders must be different individuals.

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Definitions:

Reserve Price

The reserve price is the minimum price a seller is willing to accept for an item in an auction.

English Auction

An English auction is a common type of auction where bidders openly bid against each other, with each subsequent bid higher than the previous one, until the highest bid is reached, and the item is sold to the highest bidder.

Reservation Price

The highest amount of money a buyer is comfortable spending on a product or service, representing their limit before withdrawing from a transaction.

Expected Revenue

The predicted amount of money that a business will bring in from its operations or activities, typically within a certain period.