Asked by Waleed Abdullah on Jun 30, 2024
Verified
A corporation is a domestic corporation in the particular state in which it is ________.
A) does business
B) has a bank account
C) recognized by federal law
D) incorporated
E) has its principal place of business
Domestic Corporation
A corporation located in the state in which it is incorporated.
Incorporated
A legal status indicating that a company has been registered under corporate laws and is recognized as a distinct legal entity separate from its owners.
Principal Place Of Business
The primary location where a business's executive offices and operations are conducted.
- Understand the legal steps involved in setting up, conducting, and managing corporations.
Verified Answer
ZK
Zybrea KnightJul 03, 2024
Final Answer :
D
Explanation :
A corporation is considered a domestic corporation in the state where it is incorporated, regardless of where it conducts business, has bank accounts, or has its principal place of business. Recognition by federal law does not determine the state in which a corporation is considered domestic.
Learning Objectives
- Understand the legal steps involved in setting up, conducting, and managing corporations.
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