The Determination of Who Has the Power to Amend the Corporate

question 35

True/False

The determination of who has the power to amend the corporate bylaws after the first organizational meeting is made by the articles of incorporation.

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Definitions:

Stock Dividend

A distribution of extra shares instead of cash to shareholders, which raises the total share count they possess.

Net Income

The amount of money a business keeps as profit after all expenditures, taxes, and costs are deducted from its aggregate revenue.

Preferred Dividends

Dividends that are allocated and paid to preferred shareholders before any dividends can be issued to common shareholders.

Operating Expenses

Costs that a business incurs through its normal business operations, excluding cost of goods sold.