Which of the Following Refers to the Set of Rules

question 52

Multiple Choice

Which of the following refers to the set of rules that a corporation adopts at its first organizational meeting to govern the management of the corporation?

• A) Prospectus
• B) Corporate charter
• C) Articles of organization
• D) Bylaws

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Definitions:

Sales Budget

A financial plan that estimates future sales, often broken down into units and revenue, for a specific period.

Cash Collections

The process of gathering all cash inflows from a company's business activities, including payments from customers and other receivables.

Credit Sales

Sales made by a business that are not paid for at the time of purchase, allowing customers to pay at a later date.

Budgeted Cash Collections

Budgeted cash collections are the projected cash receipts from sales or other revenue sources as estimated in a company’s budget for a specific period.