Which of the Following Steps Governing the Incorporation Process Is

question 37

Multiple Choice

Which of the following steps governing the incorporation process is included in the Model Business Corporation Act (MBCA) ?

• A) Preparing, signing, and authenticating the articles of incorporation
• B) Filing the articles with the attorney general
• C) Filing the articles by paying part of the required fees to the partnership creditor
• D) Contributing a minimum of $5,000 to receive a certificate of incorporation

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Definitions:

Dividend

A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits.

Treasury Stock

Shares that were once part of the outstanding shares of a company but were later reacquired and are held in the company’s treasury.

Common Stock

A form of corporate equity ownership, a type of security that represents ownership of a fraction of a corporation, entitling the holder to a share of the company's profits.

Retained Earnings

Refers to the portion of net income left over for the business after it has paid out dividends to its shareholders.