Unless Its Articles of Incorporation Provide Otherwise, a Corporation

question 5

Multiple Choice

Unless its articles of incorporation provide otherwise, a corporation:

• A) lasts for twenty years
• B) lasts for fifty years
• C) lasts as long as the IRS permits
• D) lasts as long as state law allows; life varies among the states
• E) none of the other choices

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Definitions:

Public Good

A product that one individual can consume without reducing its availability to another individual and from which no one is excluded.

Marginal Benefit

The incremental utility or satisfaction derived from the consumption or production of an additional good or service unit.

Marginal Cost

The increment in comprehensive expenses related to the generation of an extra unit of a good or service.

Total Benefit

The entire satisfaction or value derived from consuming a good or service.