The Buyer Will Include the Sales Tax as Part of the Cost

question 171

True/False

The buyer will include the sales tax as part of the cost of items purchased for use.

---

Definitions:

Bylaws

The set of rules and regulations that govern the internal management and structure of a corporation or organization.

Shareholder Agreement

A contract among a company's shareholders detailing the rights and obligations, often including aspects like voting rights and share sales.

MBCA

Stands for the Model Business Corporation Act, a model set of laws prepared by the Committee on Corporate Laws of the American Bar Association to guide states in the development of their corporate statutes.

Articles of Incorporation

The legal document filed with the state government to formally establish a corporation, outlining basic details like the corporation's name, purpose, and structure.