A Disadvantage of Corporations Is That Their Charters Are Only

question 337

True/False

A disadvantage of corporations is that their charters are only valid for 99 years, so corporations are less permanent than other types of businesses.

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Definitions:

Request for Proposal

A document issued by a company inviting suppliers or vendors to submit a proposal on a specific product or service requirement, detailing specifications and evaluation criteria.

Unambiguous Description

A clear and precise explanation or detail that leaves no room for confusion or misinterpretation.

Supply Process

The sequence of activities involved in ensuring that materials and services are available for an organization's operational needs, from sourcing to delivery.

Accounts Payable

The amount of money owed by a company to its creditors or suppliers for purchases made on credit, typically recorded on the balance sheet under current liabilities.