Multiply Choice
1. Generally, a corporation’s articles of incorporation must include all of the following except the:
(a) Name of the corporation’s registered agent
(b) Name of each incorporator
(c) Number of authorized shares
(d) Quorum requirements

2. Destiny Manufacturing, Inc., is incorporated under the laws of Nevada. Its principal place of business is in California, and it has permanent sales offices in several other states. Under the circumstances, which of the following is correct?
(a) California may validly demand that Destiny incorporate under the laws of the state of California.
(b) Destiny must obtain a certificate of authority to transact business in California and the other states in which it does business.
(c) Destiny is a foreign corporation in California, but not in the other states.
(d) California may prevent Destiny from operating as a corporation if the laws of California differ regarding organization and conduct of the corporation’s internal affairs.

3. A corporate stockholder is entitled to which of the following rights?
(a) Elect officers
(b) Receive annual dividends
(c) Approve dissolution
(d) Prevent corporate borrowing

4. Participating preferred stockholders:
(a) Only receive payment after other preferred shareholders have been paid
(b) Only receive payment after common shareholders have been paid
(c) Are treated like both a preferred shareholder and a common shareholder
(d) Receive all their payments before all other shareholders

5. Debentures are:
(a) Long-term secured debt
(b) Short-term secured debt
(c) Long-term unsecured debt
(d) Short-term unsecured debt