Which of the Following Is an Incidental Power of a Corporation

question 3

Multiple Choice

Which of the following is an incidental power of a corporation?

• A) Power to acquire and convey property
• B) Power to indorse and accept negotiable instruments
• C) Power to perform all acts necessary for carrying out its purpose
• D) Power to have a continuous existence

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Definitions:

Machinery Installation

The process of setting up and configuring industrial machinery in a specific location for operational use.

Depreciation

The process of allocating the cost of a tangible asset over its useful life, reflecting wear and tear, decay, or obsolescence.

Salvage Value

The estimated value an asset holds upon concluding its lifespan of utility.

Revenue Expenditures

Revenue expenditures are the costs incurred by a business in the normal course of operations, such as rent, utilities, and wages, which are expensed in the current period.