Which, If Any, of the Following Costs Cannot Be Expensed

question 42

Multiple Choice

Which, if any, of the following costs cannot be expensed or amortized as organizational expenses?

• A)Cost of issuing or selling stock certificates.
• B)Cost of organizational meetings of the board of directors.
• C)Fee paid to the state for incorporating.
• D)Legal fees incurred for preparing the corporate charter and by-laws.

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Definitions:

Joseph Galloway

A loyalist politician, lawyer, and writer in the American Colonies, who served as a delegate to the First Continental Congress but later maintained his loyalty to the British crown during the American Revolution.

John Adams

The second President of the United States, known for his role in the American Revolution and as a Founding Father.

George Washington

The first President of the United States, serving from 1789 to 1797, and a key leader during the American Revolutionary War.

Continental Army

The army raised by the Second Continental Congress in 1775 to fight the British during the American Revolutionary War, commanded by General George Washington.