Scott Cook, Founder of Intuit, Reasons Which of the Following

question 51

Multiple Choice

Scott Cook, founder of Intuit, reasons which of the following about failure?

• A)Failure is the result of poor experimentation.
• B)Failure is key to creating evidence.
• C)Failure is caused by using intuition.
• D)Failure only tells you about your mistakes; it doesn't tell you how to correct them.

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Definitions:

Close Corporations

A designation for corporations with a limited number of shareholders and operations that are more informally managed, often without a board of directors.

MBCA

stands for the Model Business Corporation Act, a model set of laws prepared to assist states in drafting their own corporation statutes.

Preincorporation Services

Services performed or actions taken in the name of a corporation prior to its legal formation.

Gratuitous Promise

A promise made without expecting anything in return, often not legally enforceable due to the lack of consideration.