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Peregrine Exam Day 11 Questions and Verified Answers| 100% Correct| Grade A+
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Peregrine Exam Day 11 Questions and Verified Answers| 100% Correct| Grade A+
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Peregrine Exam Day 11 Questions and VerifiedAnswers| 100% Correct| Grade A+
corporate income - ✔✔The tax a corporation pays on its profits
Capital - ✔✔money for investment
Security and Exchange Commission (SEC) - ✔✔serve as a govt watchdog over the nations stock markets
Legislative Rule - ✔✔An administrative agency rule that carries the same weight as a
congressionally enacted statute.
Federal Agencies - ✔✔organizations that deal with a specific area of intrest for the federal govt
interested parties - ✔✔A person who stands to gain from our belief in a claim
Incorporation - ✔✔A process that extended the protections of the Bill of Rights against the actions
of state and local governments
Incorporation steps - ✔✔1. File *articles of incorporation* with state.
2. Draft Bylaws.
3. Organizational meeting to elect directors, appoint officers, adopt bylaws, & approve pre-
incorporation contracts.
, Trademark - ✔✔A brand that has exclusive legal protection for both its brand name and its design
shareholder agreement - ✔✔An agreement between shareholders that restricts the transferability of
shares, often entered into for the purpose of maintaining proportionate control of a close corporation.
Contracts - ✔✔binding legal agreements
limited liability - ✔✔A form of business ownership in which the owners are liable only up to the
amount of their individual investments.
personal liability - ✔✔Liability assumed by borrowers that allows lenders to sue them personally
for fulfillment of the contract.
Limited Liability Company - ✔✔A business organization in which the business (not the owner) is liable
for the company's debts
Partnership - ✔✔A business in which two or more persons combine their assets and skills
Sole Proprietorship - ✔✔A business owned by one person
Limited Liability Company - ✔✔A company similar to an S corporation but without the special
eligibility requirements.
Corporations - ✔✔businesses that are owned by many investors who buy shares of stock
Truth in Lending Act - ✔✔An act which requires lenders to inform borrowers of all direct, indirect
and true costs of credit.
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