The Primary Source of Business Corporation Law Is

question 9

Multiple Choice

The primary source of business corporation law is

• A) the statutes of the corporation's state of domicile.
• B) the Internal Revenue Code.
• C) common law.
• D) federal statutes.

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Definitions:

Common Method

A widely used or accepted technique or procedure for achieving a task or solving a problem.

Common Shares

Shares to which no preferential rights or privileges are attached.

Broadly Held Corporation

A corporation with a large number of shareholders, spreading ownership widely among individuals.

Closely Held Corporation

A corporate entity characterized by a small group of shareholders, often with family members holding a majority of the stock.