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.

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Definitions:

Stop Payment Order

A request made to a financial institution to cancel the payment or processing of a check or payment transaction before it has been completed.

90 Days

A period of time consisting of exactly ninety days, often used in reference to deadlines or waiting periods.

Federal Reserve

The central banking system of the United States, responsible for monetary policy, regulating banks, and ensuring financial system stability.

Stop Payment

An order given to a bank to not pay out on a check that has been issued but not yet cashed.