The corporate document that sets forth the business purpose of a firm is the:
A)debt charter.
B)articles of incorporation.
C)corporate bylaws.
D)indenture contract.
E)state tax agreement.

Question

Quizplus · Accepted Answer

The articles of incorporation, also known as the corporate charter, set out the purpose and structure of a corporation. This document must be filed with the state in which the corporation is registered and serves as a legal foundation for the company's operations. It typically includes the corporation's name, location, number of shares authorized, purposes for which it was formed, and other important details.

The Corporate Document That Sets Forth the Business Purpose of a Firm