MATCHING Part VII Matching

question 105

Short Answer

MATCHING
Part VII Matching
Match each statement with the correct term below.a.One whose profits must be used exclusively for charitable, educational, or scientific purposes.b.One created under the laws of a given state.c.One created under the laws of any other state or jurisdiction.d.Person who takes the preliminary steps to organize a corporation.e.Person who agrees to purchase stock in a corporation.f.Rules governing a corporation's internal management.g.One formed in substantial compliance with the incorporation statute and the required organizational procedure.h.One not formed in compliance with the statute but recognized for most purposes as a corporation.i.Prevents a person from raising the question of a corporation's existence.j.One created to administer a unit of local civil government.k.Contractual right to purchase from a corporation shares of a specified class or classes.l.Source of capital creating no ownership interest and involving the corporation's promise to repay funds loaned to it.m.A type of debt security.n.Unsecured bonds; have only the obligation of the corporation behind them.o.Condition the payment of interest to some extent on corporate earnings.p.Bonds subject to redemption.q.Eligible corporation electing under the Internal Revenue Code to be taxed as a partnership.r.Shares are owned by large number of people and are widely traded.s.May be exchanged for other securities.t.Claims against a corporation's general assets and also a lien on specific property.u.Basic organizational document of a corporation; charter.v.Shares reacquired by a corporation.w.Opportunity to purchase a pro rata share of new stock offerings.x.Source of capital creating an ownership interest in the corporation.y.A corporation's exercise of the right to repurchase its own shares.
-corporation by estoppel

---

Definitions:

Inventory Cost

The total cost incurred for obtaining, storing, and managing inventory that has not yet been sold.

Retail Method

An inventory valuation method used in retail, estimating inventory costs based on the relationship between the cost and retail price of goods.

Inventory Costing

A method used to value inventory, determining the cost of goods sold and remaining inventory value.

Markup

The amount added to the cost of goods to cover expenses and generate profit, usually expressed as a percentage of the cost.