Aunt Juliet Wants to Incorporate a Small Closely Held Corporation

question 107

Multiple Choice

Aunt Juliet wants to incorporate a small closely held corporation. Which of the following bits of advice, given to her by friends, is false?

• A) She can enter into a contract on behalf of the corporation even before incorporation and the corporation will automatically be bound when it is incorporated.
• B) The incorporation document to be submitted in Ontario is the "Articles of Incorporation."
• C) The incorporation documents to be submitted in B.C. are called the "Memorandum" and the "Articles."
• D) In some jurisdictions in Canada, she could be personally responsible for a pre-incorporation contract.
• E) She has the option of incorporating federally if she wants.

Demonstrate an understanding of the opportunity cost and trade-offs involved in economic decisions.

Explain the process and importance of investment in capital resources for economic growth.

Understand the economic roles and distinctions between land, labor, capital resources, and entrepreneurs.

Grasp the impact of changes in consumer income on budget lines and consumer choices.

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Definitions:

Binge Drinking

The consumption of an excessive amount of alcohol in a short period, often defined as five or more drinks for men and four or more for women within two hours.

Disregulatory Pathways

Processes or routes by which the regulation of physiological, emotional, or behavioral responses is impaired or disrupted.

Reward Pathways

Brain circuits involved in the sensation of pleasure and motivation, often highlighted in the context of addiction and reinforcement learning.

Addiction Disorders

Mental health disorders characterized by compulsive engagement in rewarding stimuli, despite adverse consequences, often related to substance abuse or other behaviors.