Use of "Stewart and Woods, Ltd

question 71

Multiple Choice

Use of "Stewart and Woods, Ltd." as a corporate name would be:

• A) permissible as long as it is distinguishable from the name of any domestic corporation or any foreign corporation authorized to do business within the state.
• B) impermissible because it does not clearly designate that the organization is a corporation.
• C) impermissible because it includes surnames.
• D) permissible because the selection of a corporate name is purely up to the organizers of the corporation.

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Definitions:

NSF Checks

Non-sufficient funds checks are ones that cannot be processed because the drawer's account does not have enough money to cover the amount.

Journal Entry

A record in accounting that represents a transaction and its effects on accounts, following the double-entry system.

Days' Cash on Hand

A financial metric indicating the number of days a company can continue to operate using only its available cash, without additional income.

Cash Account

A financial record that tracks the cash transactions of a business, reflecting all inflows and outflows of cash.