All of the following are elements of creating a corporation EXCEPT A) each state has a specific procedure for incorporating a business. B) the procedure for chartering a corporation is the same in all states. C) most states require a minimum of three incorporators. D) a corporation's name must end in "company," "corporation," "incorporated," or "limited" to show that the owners have limited liability. E) the new corporation's name cannot be similar to that of another business.

All of the following are elements of creating a corporation EXCEPT A) each state has a specific procedure for incorporating a business. B) the procedure for chartering a corporation is the same in all states. C) most states require a minimum of three incorporators. D) a corporation's name must end in "company," "corporation," "incorporated," or "limited" to show that the owners have limited liability. E) the new corporation's name cannot be similar to that of another business.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

7) All of the following are elements of creating a corporation EXCEPT
A) each state has a specific procedure for incorporating a business.
B) the procedure for chartering a corporation is the same in all states.
C) most states require a minimum of three incorporators.
D) a corporation's name must end in "company," "corporation," "incorporated," or
"limited" to show that the owners have limited liability.
E) the new corporation's name cannot be similar to that of another business.
7)

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