Unless Its Articles of Incorporation Provide for a Specified Period

question 117

Multiple Choice

Unless its articles of incorporation provide for a specified period of duration, a corporation has:

• A) total existence
• B) permanent existence
• C) perpetual existence
• D) final existence
• E) existence of perpetual duration

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Definitions:

Step-down Method

A method used in cost accounting to allocate overhead costs to specific products or services in a hierarchical manner.

Training Department

A division within an organization focusing on the development of employees' skills and knowledge through various training programs.

Machining Department

A division within a manufacturing facility where machining processes such as cutting, shaping, and finishing of materials are carried out.

Volume Based Cost Drivers

Factors that cause the costs of an activity to increase or decrease with changes in the volume of production or services provided.