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

question 37

Multiple Choice

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

• 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 the SEC

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Definitions:

Beginning of Every Quarter

This refers to the start of each three-month period in a year, often used in financial contexts for reporting and interest calculation.

Annuity

A financial service that offers a continual payment stream to its holder, primarily aimed at funding the post-retirement life of individuals.

Compounded Semiannually

Interest that is calculated and added to the principal twice a year, leading to interest on interest.

Present Value

The contemporary value of a future monetary sum or cash flow stream, calculated with a set rate of return.