The Articles of Incorporation Include All of the Following Except

question 24

Multiple Choice

The articles of incorporation include all of the following except:

• A)what kinds of shares are to be issued.
• B)the costs of issuing the shares.
• C)the type of business to be conducted.
• D)how the board of directors is organized.

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Definitions:

Collateralize

The act of using an asset as security for a loan, ensuring the lender can seize the asset if the borrower defaults.

UPA

Uniform Partnership Act, a standardized set of laws to regulate the formation and management of partnerships in the United States.

Mortgage

A transfer of an interest in property for the purpose of creating a security for a debt.

Partnership Property

Assets purchased or acquired for the purpose of the partnership business, jointly owned by all partners according to the partnership agreement.