Generally,corporate acceptance of preincorporation subscriptions occurs by action of the:
A) board of directors after incorporation.
B) promoters during their issuance.
C) board of directors during their issuance.
D) promoters before incorporation.
Correct Answer:
Verified
Q31: A preincorporation share subscription is:
A)a contract binding
Q32: Which of the following occurs at a
Q33: A promoter owes a fiduciary duty to
Q34: The basic governing document of the corporation
Q35: According to the MBCA,which of the following
Q37: Sharon entered into a preincorporation share subscription
Q38: A(n)_ occurs when a corporation accepts a
Q39: On preincorporation share subscriptions:
A)promoters have no liability.
B)promoters
Q40: Under the Model Business Corporation Act (MBCA),a
Q41: _ are long-term,unsecured debt securities.
A)Options
B)Warrants
C)Bonds
D)Debentures
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