If the Proper Procedure for Incorporation Has Been Followed, the Corporation

question 25

Multiple Choice

If the proper procedure for incorporation has been followed, the corporation has a legal right to exist and is called a(n) : ______.

• A) corporation by estoppel
• B) de jure corporation.
• C) de facto corporation.
• D) ultra vires corporation.

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Definitions:

Imported

Products or services that are brought into one country from another for sale.

Tariff

A tax imposed by a government on goods and services imported from other countries, often used to protect domestic industries from foreign competition.

Government Revenues

The total money received by the government from taxes as well as non-tax sources like charges and fees.

Total Revenue

The total amount of money generated by the sale of goods or services before any expenses are subtracted.