Which of the Following Statements Is Correct

question 53

Multiple Choice

Which of the following statements is correct?

• A) The corporate bylaws are the set of rules drawn up by the state to enable managers to run the firm in accordance with state laws.
• B) Procedures for electing corporate directors are contained in bylaws while the declaration of the activities that the firm will pursue and the number of directors are included in the corporate charter.
• C) Procedures which govern changes in the bylaws of the corporation are contained in the corporate charter.
• D) Although most companies design a charter,only the bylaws are legally required to be filed with the secretary of state in order for a corporation to be in official existence.

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Definitions:

Nominal Exchange Rate

The rate at which one country's currency can be exchanged for another's, not adjusted for inflation differences between the two countries.

Real Exchange Rate

The price of a country's goods and services in comparison to those of another country, adjusted for exchange rate changes.

Real Exchange Rate

The rate at which the currency of one country can be exchanged for that of another, adjusted for inflation, which determines the purchasing power of one currency relative to another.

Nominal Exchange Rate

The rate at which one currency can be exchanged for another currency, not adjusted for inflation.