Which of the Following Is Not a Requirement for a De

question 53

Multiple Choice

Which of the following is not a requirement for a de facto corporation?

• A)An organization meeting was never held.
• B)There is a valid statute under which the corporation could be organized.
• C)The promoters make an honest attempt to organize under the statute.
• D)The promoters exercise corporate powers.

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Definitions:

True Value

The actual or factual value of a variable or condition, especially in contexts where values may be approximated, assumed, or evaluated.

Sgraffito

A Chinese ceramic technique in which the design is incised through a colored slip.

Confucianism

A philosophical and ethical system based on the teachings of Confucius, focusing on morality, familial duty, social harmony, and respect for hierarchy and tradition.

Daoism

An ancient Chinese philosophy and spiritual tradition emphasizing living in harmony with the Tao, or the fundamental nature of the universe.