The Model Business Corporation Act Has Made the Inclusion of Purpose

question 70

True/False

The Model Business Corporation Act has made the inclusion of purpose clause in the articles of incorporation compulsory.

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Definitions:

Social Media

Digital platforms that enable users to create and share content or participate in social networking, facilitating interaction among individuals and communities.

Traditional Print Media

Media consisting of paper and ink, distributed in physical form, such as newspapers, magazines, books, and pamphlets, as opposed to digital formats.

Social Authority

The influence or credibility a person or organization has within social networks or society, often built through expertise or reputation in a specific field.

Personal-Rewards Psychology

The study of how personal gratification influences individual behavior and decision-making.