The Schedule M-3 Reconciliation Requires Less Detailed Information Than the Schedule

question 48

True/False

The Schedule M-3 reconciliation requires less detailed information than the Schedule M-1 reconciliation.

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Definitions:

Certificate Of Incorporation

A document certifying that a corporation is incorporated in the state and is authorized to conduct business.

Secretary Of State

is a high-ranking official in the government, responsible for foreign affairs in some countries, or overseeing various governmental and administrative duties in others.

De Facto Corporation

Latin for “corporation in fact”; a corporation that has not substantially met the requirements of the state incorporation statutes.

Corporation By Estoppel

A defective corporation that has conducted business with a third party and therefore cannot deny its status as a corporation to escape liability.