Which of the Following Statements Is CORRECT

question 27

Multiple Choice

Which of the following statements is CORRECT?

• A) The corporate bylaws are a standard set of rules established by the state of incorporation.These rules are identical for all corporations in the state, and their purpose is to ensure that the firm's managers run the firm in accordance with state laws.
• B) The corporate charter is a standard document prescribed by the state of incorporation, and its purpose is to ensure that the firm's managers run the firm in accordance with state laws.Procedures for electing corporate directors are contained in bylaws, while the declaration of the activities that the firm will pursue and the number of directors are included in the corporate charter.
• C) Companies must establish a home office, or domicile, in a particular state, and that state must be the one in which most of their business (sales, manufacturing, and so forth) is conducted.
• D) Attorney fees are generally involved when a company develops its charter and bylaws, but since these documents are voluntary, a new corporation can avoid these costs by deciding not to have either a charter or bylaws.
• E) The corporate charter is concerned with things like what business the company will engage in, whereas the bylaws are concerned with things like procedures for electing the board of directors.

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Definitions:

Mindfulness Meditation

A practice of focused attention and awareness to achieve mental clarity and emotional calmness.

Biofeedback

A technique that trains people to improve their health by using signals from their own bodies to control bodily processes that normally occur involuntarily, such as heart rate.

Feel-good, Do-good Phenomenon

A psychological concept suggesting that individuals who feel happy or content are more likely to perform acts of kindness or altruism.

Emotion-focused

A therapeutic approach designed to help individuals manage and cope with their emotional responses rather than trying to change the underlying situation.