What Is Ordinarily the First Step in the Formation of a Corporation

question 276

Multiple Choice

What is ordinarily the first step in the formation of a corporation in the United States?

• A) Development of by-laws for the corporation
• B) Issuance of the corporate charter
• C) Application for incorporation to the appropriate Secretary of State
• D) Registration with a government agency

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Definitions:

Largest Economy

The country or region with the highest gross domestic product (GDP) and overall economic activity in the world.

European Union

A political and economic union of 27 member states that are located primarily in Europe, aiming to ensure free movement of people, goods, services, and capital within the internal market.

NAFTA

The North American Free Trade Agreement, a treaty among the United States, Canada, and Mexico that aimed to eliminate most tariffs on products traded among these countries, facilitating increased trade and economic integration.

Nonprofit Organizations

Entities that operate for purposes other than making a profit, often focusing on social, educational, charitable, or cultural goals.