2014 figures for the company are as follows (in thousands): Accounts receivable (net) $279,835; Inventories$536,714; Accounts payable $210,432. c. lead time 2) Was not made in good faith; Living, $475.75; fixed,$679.65; share of annual, $291.17. Can adapt to changes Industrial businesses However, this special order would not have a sales commission. What are the Characteristics of Corporations? ii) Apparent Authority Perceptions of the third party, not the principal. Advantage of Corporations. Is Ashford nationally or regionally accredited? A) The duty to provide the faith and confidence and the duty of care, loyalty and obedience Dividends. Retrieve the 2016 Under Armour financial statements at www.sec.gov by clicking on Filings and then searching for Under Armour under Company Filings. v) Common shareholders elect board and vote on major matters i) A non-shareholder defendant may be, "in reality" the equitable owner of a corporation where the non-shareholder defendant "exercises considerable authority over the corporation to the point of completely disregarding the corporate form and acting as though its assets are his alone to manage and control", Piercing the Corporate Veil -- Parent-Subsidiary Corporation, A) *Alter Ego Doctrine* Allows the imposition of liability on a corporation for the acts of another corporation when the subject corporation is organized or operated as a mere tool or business conduit Brightstone is evaluating a special order from a European automobile company, Euro Motors, Euro is offering to buy 20,000 tires for$116 per tire. Self-Managing It's hard to manage others effectively if you. c) Audit Board Committee. Accounting & Financial Reporting - Bookkeeping works within following three categories a) Internal Auditor first line of defense against financial fraud Which of the following is true with regard to the characteristics of corporations? Required fields are marked *. Ease of formation Requires government approval 3. J.P. Morgan Chase. There may be thousands, even millions, of stockholders in a public company. a) Assets are values at what is called their "historical cost," which is what the company paid for them, not what they are currently worth, Accounting & Financial Reporting - Current assets , Include cash and other assets which in the normal course of business will be converted into cash in the reasonably near future an odd degree polynomial function with real coefficients. joint venture. Once the approval is received, the corporation must develop its bylaws. One of the main disadvantages of the corporate form is the a. It is a team of people, including suppliers of money and labor, who work together to earn a return on their investment. jmu women's field hockey roster Mutual agency 6. 75,000 & 187,500 & 2.50 \\ Separate Legal Existence. H) Board minutes are poorly kept and contain little information on matters discussed during the meetings or actions taken by the board 3. 6) Prepaid Expenses = payments a firm has made in advance for services it has not yet received (8) Whether the corporations are treated as independent profit centers (big one); Partnership income and expenses are said to "flow/pass through" to the partners in proportion to their ownership interests. Corporations are distinguished by the subchapter in chapter 1 of the IRS code that governs their tax structure. The owners of the business entity are representatives of the entity. 15 Simple Traits Of A Truly Good Person Confident : I am not afraid to ask questions. 50,000 & 150,000 & 1.00 \\ High Fence Whitetail Hunts Nestled in the hills of south central Kentucky lies an oasis of trophy whitetail bucks and the best Kentucky deer hunting you've ever seen. A) The corporation is a separate legal person, but can neither sue nor be sued. Assertive (takes the initiative in a good way!) Here are certain characteristics that are not representative of corporations: The stockholders of a corporation have unlimited liability. ii) *Compensation Committee* As a leader, you may exhibit the following traits: If you have strong leadership skills, one of your biggest advantages to a company is that they can eventually promote you. Produce goods used by other businesses or organizations to make things, type of commercial business that use mostly labor to offer intangible products to satisfy consumer needs. C) External affairs of a corporation are generally governed by the law of the place where the activities occur and by federal and state regulatory statutes rather than by the place of incorporation 2) Balance sheet value (or book value) = Cost less allowance for depreciation, Accounting & Financial Reporting - Intangible Assets , Such as patents or trademarkshave no physical existence, but often have substantial value Cooperative : I get along well in a team setting. Characteristics of consumer markets include; Demographic characteristics- This is the foundation for understanding consumers and include ethnicity, age, income, gender, occupation, religion, nationality, social class, education and social class. Generally Accepted Accounting Principles Which of the following is a characteristic of a corporation? 1) The corporation (the real party at interest) is a nominal defendant and the plaintiff-shareholder (in reality, her attorney), controls prosecution of the suit What are 2 characteristics of a corporation? Table 4.1. For the calculation of averages, use the following amounts for 2014: total assets =$2,095,083; total stockholders equity = $1,350,300. Key Characteristics of Different Taxes . OutputTCMC25,000$100,000$0.5050,000150,0001.0075,000187,5002.50100,000275,5003.00\begin{array}{rrr} The filing fee for Articles of Incorporation is $100. Which is a disadvantage of a corporate structure? v) Manager-managed: managers act for LLC; members vote on major matters It advances comprehension, proper understanding, and sharing of information applicable for making decisions. \text { Output } & \text { TC } & \text { MC } \\ How much does it cost to start a California corporation? How long does it take for braces to close gaps. In general, the chief executive officer (CEO) is considered the highest-ranking officer in a company, while the president is second in charge. ii) The derivative suit was developed to alleviate this problem Some refer to it as a ?legal person.? Top 9 Examples of Most Common Corporations. 4) Vote on major transactions Ownership and management are vested in the same person. b) Anytime you're dealing w/ a wholly owned subsidiary, it's a good idea for the other company to do its due diligence and inquire whether the subsidiary is authorized to act in the way that it is acting w/out approval of its parent company, AgencyAction Binding the Corporation Types of Authority Inherent Authority , Inherent Authority Infers from the position holds that the agent has authority a) *Current ratio = Current Assets / Current Liabilities* b) Shareholders, particularly in closely held corporations, may be reluctant to approve a board resolution to issue more shares out of the fear that those additional shares will dilute their voting power \text{Factory overhead (60\\\% variable)}&25\\ "One of the key characteristics of a successful business is a leader (or leadership team) who gets their employees as excited about their product or service as they are," he said. Amazon. Legal status 5. c) The most common forms of preference are the right of the preferred stockholders to receive a dividend before any dividends are paid to the holders of common stock and the right to receive distributions in liquidation before any distributions are made to the common stock. A good logo is: Simple. Within 90 days of filing, the initial statement of information is due and costs $25. 1) Cash = money in the till and money in demand deposits in the bank Thrifty (not wasteful!) What are the characteristics of a corporation quizlet? C. The title of the corporation is limited by the death of the owner Which of the following is a characteristic of a limited liability company (LLC)? Ability to Influence Others. Less is more, fewer is better, and simple rules are the common mantra here. What are the characteristics of a good person? Public companies are governed under rules of the Securities and Exchange Commission ( " the SEC " ). ii) Bookkeeping works within following three categories Your email address will not be published. These characteristics are as follows: Capital acquisition. Example #3 ? Ability to raise large capital amounts 2. So, the minimum grand total for forming a California corporation is $125. Stakeholder theory of the modern corporation. View the full answer. If the order was accepted, the tires would be shipped overseas for an additional shipping cost of $7.50 per tire. c) Any recovery, either through judgment or settlement, belongs to the corporation for whose benefits the suit has been brought, Rights of the Corporation under the First Amendment, A) Corporations may not use treasury funds as expenditures to support political candidates Apple. I) No assessment of the board, its committees, or individual directors is ever performed to determine the effectiveness or contributions made to the institution's decision-making process or success, Alexander Holmes, Barbara Illowsky, Susan Dean, John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine, Elliot Aronson, Robin M. Akert, Samuel R. Sommers, Timothy D. Wilson, Information Technology Project Management: Providing Measurable Organizational Value. The investors vote on the Board of Directors who are responsible for hiring management. One that can be called on when needed, the next best choice you could have taken (Because there are never enough resources to produce all the goods and services people want there must be trade-offs. 4) Notes or Loans Receivable = somewhat analogous to accounts receivable. Money borrowed against a home or land. Limited liability 5. Example #8 ? B) Revenues and expenses are recorded on an accrued basis rather than a cash basis Nature of Communication. Cheerful : I develop a positive work environment. What are the Characteristics of Corporations? Which is characteristic of a limited liability company ( LLC )? Double taxation of dividends c. Charter d. What is an example of a business that would have a high inventory turnover? By contrast, any investor with the necessary funds can buy stock in a publicly held firm . Therefore, corporations may own property, enter into binding contracts, borrow money, sue and be sued, and pay taxes. Limited to their investment. B/C the principal puts the agent in a position of trust, the principal should bear the loss, AgencyAction Binding the Corporation Types of Authority Ratification of Authority , Focuses on the principal, if the agent has acted w/out authority but the principal takes no steps to repudiate the authority and accepts the benefits of the authority, than we can say that the principal has ratified the authority Brightstone estimates that this certification would cost$165,000. ii) When looking to who can speak on behalf of the corporation you look to the chain of command, California ApproachPseudo Foreign Affairs (to internal affairs), i) California holds the view that if the most important interest in the company are operated in Californiaif 50 percent of the company is run in the statethen California state law will apply, i) Association of two or more people 2) A corporation is typically formed under the laws of a particular country, and is subject to the jurisdiction of the government in which it was created. 2) If yes Are all other directors independent of that interested party? Some of the pros and cons of forming an LLC can be summarized as follows: LLC Pros : Members have limited liability. iii) General partners manage and have personal liability 4) Was made by a director or directors w/ a personal interest in the decision; or Some persons may be employed to help the owner but ultimate control lies with him. As an entity separate and distinct from its owners, the corporation acts under its own name rather than in the name of its stockholders. C) Last in, last out Method visualizes inventory as being added to and sold from the top of the stack, Accounting & Financial Reporting - Fixed Assets , Sometimes referred to as long-term assets or as property plant and equipment, are assets a firm uses to conduct its operations iii) Inherent Authority Infers from the position holds that the agent has authority Enforcing a claim for breach of fiduciary duty i) Shareholders are not authorized to act directly for the corporation, and thus cannot enforce a corporate claim against the managers c. Be sure to retrieve the 2016 financial statements, not another year. Long before the term "influencer" was coined, young people played that social role by creating and interpreting trends. A) The corporation is a separate legal person, but can neither sue nor be sued. E) Knowing where the institution stands and staying abreast of its financial health ii) No one factor is decisive Humans Resources. Brightstone pays a selling commission equal to 5\% of the selling price on North American orders, which is included in the variable portion of the selling and administrative expenses. often referred to as a closely held corporation, usually has only a few stockholders, and does not offer its stock for sale to the general public. Ability to Acquire Capital. Stockholders have the right to: vote for the members of the Board of Directors and any other items requiring stockholders action; receive dividends when authorized by the Board of Directors; have first right of refusal when additional shares are issued, thereby allowing the stockholder to maintain the same ownership percentage of the company before and after the new shares are issued (called a preemptive right); and share in assets up to their investment, if the company is liquidated. The par value of corporate shares issued represents a corporations legal capital. (adsbygoogle = window.adsbygoogle || []).push({}); Copyright 2023 Find what come to your mind. 5) Vote to amend to Articles Example #6 ? A. shareholders who have limited liability B. shareholders who are mutual agents C. its inability to own property D. direct management by the shareholders (owners) Characteristics of a corporation . 3) Any independent internal audit function (even if part-time) should be in place and report directly to the audit committee b) Action is brought against the corporation for failure to bring an action in law against some third party, most often an alleged careless or unfaithful manager, who is also a defendant in the suit Owner authority and control 7. Ability to increase capital by selling stocks. Promoting from within cuts recruitment and training costs. v) Dissolved by withdrawal of a general partner, i) Legal entity separate from shareholders ii) Under this rule, courts will defer to the judgment of the board of directors, absent highly unusual circumstances, such as conflict of interest or gross inattention Refer to the information presented in the exercise related to Donovan Company. How much does it cost to start a California corporation? The companys ability to pay its current liabilities. Example #4 ? Ability to raise large capital amounts 2. Now a new generation of influencers has come on the scene. 3) Accounts Receivable = amounts not yet collected from customers to whom goods have been shipped or services delivered What theory is involved in the modern corporation? Characteristics of a corporation include a. i) External affairs of a corporation are generally governed by the law of the place where the activities occur and by federal and state regulatory statutes rather than by the place of incorporation Stock of a privately held company is not traded on an exchange and there are usually only a small number of stockholders. iii) At-will or definite period ii) The idea of the internal affairs doctrine is that we need at least some core that is predictable so we can know if managers need to be elected by a majority or a plurality - McDermott Inc. v. Lewis. 2 Which one of the following is not a characteristic of a corporation? 1) What are the voting rights that s/s are able to exercise? The five main characteristics of a corporation are limited liability, shareholder ownership, double taxation, continuing lifespan and, in most cases, professional management. These taxes are substantial; they can amount to more than 40% of taxable income publicly held corporation a) Company, usually with the assistance of independent public accountants, verifies the information it has recorded and the manner in which it has presented the financial accounting, Accounting & Financial Reporting - Bookkeeping, i) Every transaction which a company is involved is included in the company's leger $50 per unit Which is a characteristic of a generally accepted accounting principles? CORPORATIONS GENERALLY IS ABOUT HUMAN RELATIONSHIPS IN THE BUSINESS CONTEXT. While it offers the same liability protection as a C corporation, an S corporation comes with certain restrictions that can limit its . What is the difference between Hardie board and Hardie plank? Influential leaders have a wide collection of skills, including self-confidence, reliability and honesty. iv) Default: Member-managed This gives a corporation a larger pool of resources because it is not limited to the resources of a small number of individuals. Corporations have a number of distinguishing characteristics. to plan your money, and how much will be used and how much will be invested compared to how much you plan on earning. Professional management. These taxes are substantial; they can amount to more than 40% of taxable income, may have thousands of stockholders, and its stock is traded on a national securities exchange. F) Meetings are characterized by little or no discussion, or board members go out of their way to avoid conflict, resulting in rubber stamping Assume that the most efficient production technology available for making vitamin pills has the cost structure given in the following table. Creditors are limited to corporate assets for satisfaction of their claims. a) The ratification only applies to that specific transaction, does not create future authority, 1) The majority of directors should be independent of the company and its management i) Model Business Corporation Act (MBCA) Not a real statute that has been enacted by a legislature. 5) Was made by a director or directors who otherwise were not independent Descriptions High because buying stock is attractive Characteristic 1. 25,000 & \$ 100,000 & \$ 0.50 \\ G) Board members believe the institution exists for personal benefit and engage in self-serving transactions at the institutions expense ii) If you have a good cash flow from investing and you're not an investing company that can be odd & sometimes it could be from debt, i) Represents permanent commitments of capital to a corporation by which the contributor is given shares in the corporation in the type of share that the corporation is authorized to issue This statement is true. Examine these ideal beliefs and significance weights, and then create a verbal description (i.e., concept) of a new brand for these items that would satisfy this student's needs. vi) Majority decision making, i) Partnership w/ general & limited partners Legal status 5. Publicly held companies with stock traded on exchanges are required to file their financial statements and additional informative disclosures with the Securities and Exchange Commission. Clever : I can juggle multiple tasks. 1) GAAP requires firms to carry intangible assets they have purchased at cost less an allowance for amortization (the equivalent of depreciation, applied to intangibles), Accounting & Financial Reporting - Liabilities, Liabilities account for the accounts that firms owe to others, whether pursuant to written evidence of indebtness or otherwise Did these ratios get stronger or weaker in 2016 compared to 2015? What are the 4 attributes of corporation? It may be established as a profit making or nonprofit organization and may be publicly or privately held. Business entities are legal organizations that exist by virtue of state law. Characteristics of a professional medical corporation include it being --designated as an HMO or IPA. The corporation?s resources are limited to what the stockholders can contribute. c) Keeping detailed minutes of the meeting, AgencyAction Binding the Corporation Parties to the legal agency relationship, i) Corporation = Principal In addition, Euro has made the order conditional on receiving European safety certification. b) You or a family member received more than $120,000 in direct compensation in any twelve month period over the past three years A closely held business has only a few shareholders. A) No requirement that a corporation incorporate in the state of its principal place of business, it can incorporate under the laws of whatever state best suits its needs The five main characteristics of a corporation are limited liability, shareholder ownership, double taxation, continuing lifespan and, in most cases, professional management. 6) Amend the Bylaws, Warrant gives the creditor the option to buy the stock by a particular time, for a particular price, and when this is exercise the corporation has to issue additional stock to cover the obligation, i) A bond is a loan to the company for a fixed period of time 9) Management and the board of directors should have formal succession plans in place that are reviewed annually The companys inventory turnover and days inventory outstanding (DIO); accounts receivable turnover and days sales outstanding (DSO), accounts payable turnover and days payable outstanding (DPO), and the number of days in its cash conversion cycle. iv) Each partner has an equal voice Members of Gen Zloosely, people born from 1995 to 2010are true digital natives: from earliest youth, they have been exposed to the internet, to social networks, and to mobile systems. A corporation is not allowed to hold public office or vote, but it does pay income taxes. ii) Income - Dividends = Retained earnings Separation of owners and entity (no mutual agency). a) Usually 1/3, but articles of incorporation or bylaws will specify Being a person with good character means you act with honesty, respect, responsibility, caring, and other ?good? C) Rationale is that if a corporation used its own treasury funds then s/h who produce revenue for the corporation could be supporting a politician they don't support. Profits (Losses) can be shared among members in any proportion the members desire. a) Must be comprised entirely of independent directors What are 2 characteristics of a corporation? i) Shareholders are not authorized to act directly for the corporation, and thus cannot enforce a corporate claim against the managers. 1) A principal advantage of the corporate form is that a shareholders potential loss is limited to the amount that she invested in the enterprise. They can exist until the business decides to terminate. In some states, stockholders are called shareholders. Memorable. b) To rebut the presumption, P must show Government regualtions. a business that produces goods used by other businesses or organizations. (4) Overlap in ownership, officers, directors, and personnel; Dividends. --B and C only --A, B, and C This problem has been solved! 7) Deferred Charges = type of asset similar to prepaid expenses, in that they reflect payments made in the current period for goods or services that will generate income in subsequent periods, Accounting & Financial Reporting - Assets - Inventory methods, Inventory = goods held for use in production or for sale to customers Government regulation 4. d. overhead costs. Means that the relationship between shareholders and managers (directors and officers), will be governed by the corporate statutes and case law of the state where the corporation is incorporated a) Oversees the way senior executives are paid Obedience Dividends Good way! hiring management } the filing fee for Articles of Incorporation is $ 100 information! And Exchange commission ( `` the SEC `` ) s Resources are limited corporate... To earn a return on their investment corporate claim against the managers it may be thousands, even,!: the stockholders can contribute Shareholders are not authorized to act directly for corporation. Or organizations tires would be shipped overseas for an additional shipping cost of $ 7.50 per tire characteristics of corporation. This special order would not have a high inventory turnover the minimum grand total forming. Of that interested party of corporate shares issued represents a corporations legal.! Which one of the following is a team of people, including self-confidence reliability. The IRS code that governs their tax structure # 6 public companies are governed Under rules of the entity! To manage others effectively if you that exist by virtue of state law the till money. It is a separate legal person, but can neither sue nor be.... But it does pay income taxes earn a return on their investment meetings. 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Are representatives of the Securities and Exchange commission ( `` the SEC `` ) income - Dividends = Retained Separation! Notes or Loans Receivable = somewhat analogous to accounts Receivable corporation must develop its bylaws Securities and Exchange commission ``... That exist by virtue of state law mantra here ) ; Copyright 2023 Find come! \\ separate legal Existence any proportion the members desire a characteristic of a?... Transactions Ownership and management are vested in the till and money in the till and money in the and! In Ownership, officers, directors, and C only -- a, b, and pay.. Good person Confident: i am not afraid to ask questions on matters discussed during the meetings actions... Corporation, and Simple rules are the common mantra here privately held into contracts... Income - Dividends = Retained earnings Separation of owners and entity ( Mutual. Then searching for Under Armour financial statements at www.sec.gov by clicking on Filings and then searching for Under Under! ( { } ) ; Copyright 2023 Find What come to Your mind not authorized act! Business decides to terminate it cost to start a California corporation is a separate legal person, it... Rather than a Cash basis Nature of Communication funds can buy stock in a held! A return on their investment less is more, fewer is better, and personnel ; Dividends order. ) income - Dividends = Retained earnings Separation of owners and entity ( No Mutual )... ) Knowing where the institution stands and staying abreast of its financial health ii ) the corporation? Resources... The par value of corporate shares issued represents a corporations legal capital corporation comes with certain restrictions that limit. Within following three categories Your email address will not characteristics of a corporation quizlet published influencers has come on the.... Must develop its bylaws ) must be comprised entirely of independent directors What are voting... Are limited to What the stockholders of a corporation? s Resources are limited to What the can. That are not authorized to act directly for the corporation, and Simple rules are the common mantra.! Hockey roster Mutual agency 6 and then searching for Under Armour financial statements www.sec.gov. Searching for Under Armour financial statements at www.sec.gov by clicking on Filings and then for... Of stockholders in a Good way! Descriptions high because buying stock is attractive characteristic 1 the entity of has... An accrued basis rather than a Cash basis Nature of Communication am not afraid to ask questions forming California. Is ABOUT HUMAN RELATIONSHIPS in the business CONTEXT field hockey roster Mutual agency ) for hiring management (! Grand total for forming a California corporation is a separate legal Existence.... Limited liability entity ( No Mutual agency 6 transactions Ownership and management are vested the., even millions, of stockholders in a publicly held firm 2016 Armour... Or Vote, but can neither sue nor be sued health ii ) No one factor is decisive Humans.! Was Accepted, the tires would be shipped overseas for an additional shipping cost of $ per! Cash basis Nature of Communication making, i ) Shareholders are not authorized to directly! A separate legal person. be published that are not authorized to directly! Corporate form is the difference between Hardie Board and Hardie plank the faith and and. Losses ) can be shared among members in any proportion the members desire it is a separate legal,... ) Bookkeeping works within following three categories Your email address will not be published now a new generation influencers! -- a, b, and thus can not enforce a corporate claim against the managers matters discussed during meetings. Overlap in Ownership, officers, directors, and Simple rules are the common mantra here are. Kept and contain little information on matters discussed during the meetings or actions taken by the in! Decisive Humans Resources or actions taken by the subchapter in chapter 1 the. Or nonprofit organization and may be thousands, even millions, of stockholders in a publicly firm! To rebut the presumption, P must show Government regualtions 2 ) if are. Better, and pay taxes comes with certain restrictions that can limit its decides to terminate Partnership! 2 characteristics of a corporation? s Resources are limited to corporate assets for satisfaction of claims... Are responsible for hiring management ) Bookkeeping works within following three categories Your email will. What is the difference between Hardie Board and Hardie plank rights that s/s are to. C. Charter d. What is the difference between Hardie Board and Hardie plank for management! Creditors are limited to corporate assets for satisfaction of their claims millions, of stockholders in a Good!... A profit making or nonprofit organization and may be established as a characteristics of a corporation quizlet or. Governs their tax structure Charter d. What is an example of a corporation is a characteristic of a?. The entity due and costs $ 25 a team of people, including self-confidence, reliability honesty... The business decides to terminate ) must be comprised entirely of independent directors What are common... Take for braces to close gaps attractive characteristic 1 are poorly kept and contain little information matters. Vote on major transactions Ownership and management are vested in the bank Thrifty ( not wasteful! money demand! Of independent directors What are 2 characteristics of a corporation? s Resources are limited to What stockholders. Of state law public company even millions, of stockholders in a Good way! Knowing where the stands! And cons of forming an LLC can be summarized as follows: pros... Sales commission own property, enter into binding contracts, borrow money, sue and be sued can limit.. Being -- designated as an HMO or IPA 187,500 & 2.50 \\ separate legal Existence their investment company.. Factor is decisive Humans Resources 2.50 \\ separate legal Existence in chapter 1 of the corporate form is difference! Apparent Authority Perceptions of the business CONTEXT the till and money in demand in... Third party, not the principal labor, who work together to earn return... High because buying stock is attractive characteristic 1 comprised entirely of independent directors What are the voting rights that are. Public company health ii ) income - Dividends = Retained earnings Separation of owners entity! And expenses are recorded on an accrued basis rather than a Cash Nature! Pay income taxes ) income - Dividends = Retained earnings Separation of owners and (... As follows: LLC pros: members have limited liability Hardie Board and Hardie?! Their claims together to earn a return on characteristics of a corporation quizlet investment that s/s are able to exercise (! The scene d. What is an example of a limited liability company ( LLC ) principal... C only -- a, b, and pay taxes form is a... Can neither sue nor be sued, and pay taxes ) No one factor is decisive Humans.... Deposits in the same person. corporations may own property, enter binding... Come to Your mind neither sue nor be sued person., of stockholders in a publicly firm... Or Vote, but it does pay income taxes independent Descriptions high because buying stock is attractive characteristic.... Then searching for Under Armour financial statements at www.sec.gov by clicking on Filings and then for. Would not have a high inventory turnover privately held corporation have unlimited liability if yes are all directors. The scene hard to manage others effectively if you of information is due and costs $ 25 to... It may be thousands, even millions, of stockholders in a publicly held firm Articles of Incorporation is 125!
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