Bule GMU Final Exam Study Guide Questions and Correct Verified Answers Latest Version
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Course
BULE
Institution
BULE
Model Business Corporation Act (MBCA)
A codification of modern corporation law that has influential in the
drafting and revision of state corporation statutes.
RMBCA
Revised model business corporation act.
Corporation
A legal entity formed in compliance with statutory requirements that is...
✓ A designation in the United States for a corporation formed in another
country but doing business in the United States.
Certificate of Authority
✓ A corporation doesn't have an automatic right to do business in
another state, so in some instances they must get a certificate of
authority.
Public Corporation
✓ Formed by the government to meet some political or governmental
purpose. (EX: postal service) Same as a public held corporation whose
shares are publicly traded in securities markets, such as the new york
stock exchange.
Private Corporation
✓ Created wholly or in part for private benefit.
Nonprofit Corporation
✓ Corporations formed for another purpose than making profits. Example:
Private hospitals, educational institutions.
Master01 | September, 2024/2025 | Latest update
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