A Contract Between a Business and a State Recognizing the Business

question 120

Multiple Choice

A contract between a business and a state recognizing the business as an artificial person is known as the

• A) articles of partnership.
• B) articles of incorporation.
• C) S-corporation.
• D) stock certificate.
• E) proxy.

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Definitions:

Phillips Gasoline

Phillips Gasoline refers to gasoline produced and marketed by Phillips 66, an American energy company, recognized for its quality and performance fuel products.

Calculate Elasticity

The process of determining the measure of responsiveness of the quantity demanded or quantity supplied of a good to a change in one of its determinants, such as price or income.

Unit Elastic

A situation in economics where a change in the price of a good leads to a proportional change in quantity demanded or supplied.

Total Revenue

Total revenue refers to the entire amount of money generated by a firm or entity from its business activities, such as sales of goods or services, before any expenses are subtracted.