To Retain Its Status as a Corporation in Good Standing,a

question 47

Multiple Choice

To retain its status as a corporation in good standing,a corporation must:

• A)pay an annual franchise fee or tax.
• B)hold an annual shareholders' meeting.
• C)pay an annual dividend to shareholders.
• D)hold an annual board of directors' meeting.

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Definitions:

Total Revenue

Total revenue refers to the overall amount of money generated by a business from its sales activities before any expenses are subtracted.

Break-Even Point

An output at which a firm makes a normal profit (total revenue = total cost) but not an economic profit.

Total Revenue

The total income received by a firm from selling its goods or services, calculated as the quantity sold multiplied by the selling price per unit.

Short-Run Supply Curve

A supply curve that shows the quantity of a product a firm in a purely competitive industry will offer to sell at various prices in the short run; the portion of the firm’s short-run marginal cost curve that lies above its average-variable-cost curve.