A Corporation Is a Domestic Corporation in the Particular State

question 73

Multiple Choice

A corporation is a domestic corporation in the particular state in which it is ________.

• A) does business
• B) has a bank account
• C) recognized by federal law
• D) incorporated
• E) has its principal place of business

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Definitions:

Fixed Costs

Expenses that do not change with the level of goods or services produced over the short term; these include items like rent, salaries, and insurance.

Depreciation Expense

The distribution of a physical asset's cost over its lifespan to account for depreciation or becoming outdated.

Sales

The total amount of goods or services sold by a company.