A(n) ________ is a clause that can be included in the articles of incorporation that stipulates the activities that the corporation can engage in. The corporation can engage in no other purposes or activities.
A) ultra vires clause
B) dissolution clause
C) general purpose clause
D) limited purpose clause
Correct Answer:
Verified
Q18: _ are corporations that have many shareholders
Q19: Which of the following elects members of
Q20: A(n) _ is a fictitious legal entity
Q21: An S corporation cannot have more than
Q22: The earnings of a not-for-profit corporation are
Q24: An S corporation must pay federal income
Q25: Which of the following must be true
Q26: Which of the following acts is seen
Q27: An S corporation can have nonresident aliens
Q28: The _ is the basic governing document
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