Corporations Are Legally Formed by Filing Articles of Organization with the State

question 74

True/False

Corporations are legally formed by filing articles of organization with the state in which the corporation will be created.

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Definitions:

Activity-Based Costing

A costing method that assigns overhead and indirect costs to specific activities related to production.

Production Orders

Instructions or commands produced to initiate the manufacture of a specific quantity of goods at a specified time.

Activity-Based Costing

A costing method that allocates overhead and indirect costs to specific activities, providing more accurate product costing.

Direct Labor Rate

The cost of the work done by those employees who directly manufacture the products, usually measured per hour.