Asked by Isaiah Diller on Jul 05, 2024
Verified
Which of the following is the basic governing document of a corporation?
A) A subscription.
B) A charter, after filing.
C) The set of bylaws.
D) A certificate of authority.
Governing Document
A formal record that establishes the rules, regulations, or principles by which an organization or entity is governed.
Certificate of Authority
A document issued by a state government granting a company permission to do business in that state as a foreign (out-of-state) entity.
Charter
A charter is a legal document that establishes a corporation or municipality, outlining its rights, privileges, and operations.
- Familiarize yourself with the responsibilities and limitations inherent in corporate bylaws and articles of incorporation.
Verified Answer
Learning Objectives
- Familiarize yourself with the responsibilities and limitations inherent in corporate bylaws and articles of incorporation.
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