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:

Initial Franchise Fee

An upfront cost that a franchisee pays to a franchisor for the rights to use the brand and operate under the franchise agreement.

Recorded as Revenue

The recognition of income when earned by the company, typically upon delivery of goods or completion of services.

Installment Sales Method

The installment sales method is an accounting technique used to recognize revenue and expenses for sales made on credit, wherein income is recognized as installment payments are received.

Recognizing Profit

The process of formally acknowledging and recording income on the financial statements when it is earned, regardless of when the cash is received.