Mabel and Nahim Want to Start Up and Incorporate a New

question 11

Multiple Choice

Mabel and Nahim want to start up and incorporate a new business enterprise.The first step in the incorporation process is to

• A)choose and file a corporate name with a state office.
• B)draft the bylaws to govern the corporation.
• C)hold an initial board of directors' meeting.
• D)prepare and file articles of incorporation with a state office.

---

Definitions:

Erosion Effects

Erosion effects describe the gradual decrease or undermining of value, benefits, or productivity, often due to external factors such as competition or technological advancements.

Equivalent Annual Costs

A financial analysis method to determine the annual cost of owning, operating, and maintaining an asset over its entire life.

Use of Cash

Describes how a company spends its cash, encompassing operational expenses, investment activities, and financing activities.

Accounts Receivable

Owed sums to a corporation by its customers for commodities or services furnished or taken advantage of, with the payment still forthcoming.