Asked by Peter Bourgeois on Jul 04, 2024
Verified
Min-ji, Marcus, and Penelope would be identified by what term in their arranging for necessary capital and financing for the corporation?
A) Promoters
B) Subscribers
C) Novators
D) Subscriptioners
E) Acceptors
Promoters
Individuals or entities that take the initiative in founding and organizing a business or corporation, often responsible for its early management and securing of initial capital.
Incorporation Process
The legal procedure through which a business entity is formed and recognized as a corporation under the law, providing it with certain legal rights and protections.
Capital
Financial assets or resources owned by an individual or organization, used for investment or production.
- Assess the position and legal repercussions pertaining to corporate promoters and subscribers.
Verified Answer
AS
Amanda StoutJul 10, 2024
Final Answer :
A
Explanation :
Promoters are individuals who undertake the preliminary activities involved in forming a corporation, including arranging necessary capital and financing. In this scenario, Min-ji, Marcus, and Penelope are acting as promoters for Horse Tracks by raising capital and entering into contracts on behalf of the corporation before it is formally established.
Learning Objectives
- Assess the position and legal repercussions pertaining to corporate promoters and subscribers.