In the State in Which It Is Incorporated,a Corporation Is

question 81

Multiple Choice

In the state in which it is incorporated,a corporation is a[n] ________ corporation.

• A)Approved
• B)Home
• C)Domestic
• D)Certified
• E)Recognized

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Definitions:

Management Responsibilities

The duties and obligations that managers have to oversee and guide their organization effectively.

Personal Liability

The legal responsibility of an individual to satisfy debts or obligations from their personal assets.

Joint Stock Company

A partnership agreement in which company members hold transferable shares, whereas all the goods of the company are held in the names of the partners.

Partnership Agreement

A legal document that specifies the rights, responsibilities, and profit and loss distribution among business partners.