Lon and Merry Act as the Incorporators for NuGame Corporation

question 35

Multiple Choice

Lon and Merry act as the incorporators for NuGame Corporation.After the first board of directors is chosen,subsequent directors are elected by a majority vote of NuGame's

• A)board of directors.
• B)incorporators.
• C)officers.
• D)shareholders.

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Definitions:

Appraised Value

An estimation of the value of property, typically real estate, as determined by a professional appraiser based on market conditions and property characteristics.

Equity Income

Income that comes from stock dividends or the sale of shares, reflecting earnings from investment in equity securities.

Straight-Line Basis

An accounting method used for calculating depreciation by evenly dividing an asset's value over its expected lifespan.