The legal requirements that owners should fulfill before forming a corporation are:
- Owners should meet the state statutory needs.
- Owners should register the name and articles of incorporation.
<h3>What is a Business Corporation? </h3>
This refers to the business structure that operates as a separate entity that has shareholders and board of directors.
Hence, we can see that based on the legal requirements of starting a business corporation, the need to meet the state statutory needs and also register the name and article of the incorporation.
Read more about business corporations here:
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Answer:
Contract law principles quiz
Explanation:
1:D
2:C
3:B
4:C
5:D
6:D
7:A
8:A
9:B
10:A
Answer: The entry is a reflection cash payment of $8000 which is a reduction of liabilites of $3000 on salaries payable and an expense of $5000 incurred on salaries.
Explanation: The transaction coud be a typical scenario of a payment for salaries previously due provided for while also paying for the presently incurred salaries expense.
Answer:
I need some points please
Answer:
Explanation:
The construction of the simple income statement is presented below:
Sales revenue $1,000
Less: Cost of goods sold -$200
Gross profit $800
Less: Operating expenses
General and administrative expenses -$50
Depreciation expense -$150
Profit before tax $600
Less: income tax -$100
Net income $500
