Question

State incorporation grants corporations the following express powers excepta.the power to lend money.b.the power to make charitable donations.c.the power to acquire property.d.the power given in the statement of corporate purpose in the articles of incorporation.e.the power to make contracts and borrow money.

Answer 1

Answer:

d. the power given in the statement of corporate purpose in the articles of incorporation        

Explanation:

A corporation is a single entity company or a group of people that are authorized by the law to conduct specific business.

The State incorporation grants several 'express powers' to the corporation. They are :

• the power to establish rules for managing the corporations.
• the power to obtain property
• the power to give money as loan
• the power to have permanent existence
• the power to sue others and can be sued in corporation's name
• the power to make charitable donations
• the power to borrow money and make any contracts

Thus the answer is --

d. the power given in the statement of corporate purpose in the articles of incorporation