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What are performance tests and why are they important? Give two examples of performance tests.
Nonprofit Corporations
are legal entities organized for purposes other than generating profit, where surplus revenues are reinvested in the entity's mission rather than distributed to shareholders.
Articles of Incorporation
The document filed with a governmental body to legally document the creation of a corporation, outlining its structure, purpose, and regulations.
Authorized Shares
The maximum number of shares that a corporation is legally permitted to issue, as specified in its articles of incorporation.
Incorporator
An individual or entity that establishes a corporation by filing the necessary legal documents with a governmental body.
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