[Anonymous]

Hmmm I thought when I thought one of the test prep’s answers were wrong, I was really wrong just had to figure out why…but I got this Q out of a Wiley Test Bank:

Under the Revised Model Business Corporation Act, which of the following items of information should be included in a corporation’s Articles of Incorporation (charter)?

• Name and address of the corporation’s promoter.

• Name and address of each preincorporation subscriber.

• Election of either C corporation or S corporation status.

• Nature and purpose of the corporation’s business

Correct answer…Nature and purpose of the corporation’s business

Pretty sure thats wrong, I know the Name must be include but not sure about the purpose…

My answer = Name and address of the corporation’s promoter

This is from Gleim Articles of Incorp must contain:

1. Corp’s name

2. No authorized shares

3. Street address of initial registered office

4. Name of registered agent at that office

5. Name and address of each incorporator

From the almighty Google “Some states refer to an incorporator as a promoter”

So….thoughts? And I guess more importantly from those at this awhile, does this happen alot (if in fact their answer is wrong?)

Edit, futher down in the Gleim test it says Artciles may also contain purpose and powers of Corp and the question asked should not Must….if so thats a ridiculous distinction

[Anonymous]

Yeah, it's wrong. You can include the purpose of the corporation, but don't have to be specific about the nature.

So, it's A.

There are other wrong answers. Not too many, though.

[Anonymous]

Yeah a few more dollars into Quality Control…..at least that one was obvious. Thanks for the reply

[Josh]

yea, that's a difference I found between Gleim and Ninja Blitz at least. Gleim says name and purpose are optional. Not sure who's right? Congratulations, 75!

[Author]

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