A detailed set of rules adopted by the board of directors after a corporation is incorporated that contains provisions for managing a corporation are referred to as ________
A) ultra vires rules
B) articles of incorporation
C) bylaws
D) corporation codes
C
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On which financial statement does Income Summary appear?
a. Statement of retained earnings b. On no financial statement c. Income statement d. Balance sheet
Why would a country with a diverse population constitute a better market than a less diverse
country, assuming that their population size and wealth were similar? A) The number of segments available in the diverse country is greater. B) The country with a diverse population would have a larger upscale potential. C) A lack of diversity would eventually lead to a greater number of competitors in the market. D) The population growth in a country with diverse population is always greater.
In order to succeed, a corporate social responsibility program must be adopted and enacted by all of the functional areas within a firm.
Answer the following statement true (T) or false (F)
Two supermarkets agree to charge $3.50 for a gallon of milk, which is a fair price in the locality
This action is: A) Horizontal price fixing. B) Vertical price fixing. C) A horizontal market division. D) A group boycott. E) Legal, because the price agreed upon was fair.