Which of the following is true about the creation of a corporation?
A) It is created under federal law.
B) It created under state law.
C) The formal application for a corporate charter is called the articles of association.
D) It is regulated only by local statutes.
E) Corporations are inexpensive to form.

Question

Quizplus · Accepted Answer

A corporation is an artificial, intangible entity created under the authority of a state's law. A corporation is created by a state issuing a charter upon the application of individuals known as incorporators.

Which of the Following Is True About the Creation of a Corporation