A Document a Corporation Files with the State Explaining Its

question 47

Multiple Choice

A document a corporation files with the state explaining its organization is known by which of the following terms?

• A)Proof of capitalization
• B)Certificate of organization
• C)Proof of incorporation
• D)Articles of incorporation
• E)Establishment of corporation

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Definitions:

Depreciable Asset

An asset that loses value over time and for which depreciation can be applied for tax and accounting purposes.

Capital Gain

The profit earned from the sale of an asset that has increased in value over its purchase price.

Selling Price

The price at which a product or service is sold to customers, which can cover the cost of production and include a profit margin.

Cash Flow Estimates

Projections of the amount of money expected to flow in and out of a business over a specific period.