Which of the Following Is True Regarding How Directors Are

question 60

Multiple Choice

Which of the following is true regarding how directors are chosen during incorporation?

• A) Prior to incorporation, either the incorporators appoint them or the corporate articles name them.
• B) Prior to incorporation, either the incorporators appoint them or by a majority vote of the shareholders.
• C) Prior to incorporation, directors may only be named through the incorporators appointing them.
• D) Prior to incorporation, directors may only be named by the corporate articles naming them.
• E) Prior to incorporation, directors may only be named by the president appointing them.

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Definitions:

Final Selling Price

The final amount at which a product is sold to the consumer, including all discounts, offers, and added taxes.

Retailer's Cost

The total expenses incurred by a retailer in acquiring goods for sale, not just the purchase price, but also including shipping, storage, and other costs.

Brand-Name Merchandise

Products that are recognized and sold under a well-known, established brand name, often associated with higher quality and consumer trust.

Markdown Pricing Strategy

A pricing approach where products are initially offered at a higher price but are subsequently marked down, usually to stimulate sales or clear out inventory.