Practice Quiz

CLEP Business Law

Category - Legal Envrmt

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A foreign corporation is a:
  1. Corporation formed in another state.
  2. Corporation formed in another country.
  3. Corporation formed offshore.
  4. A and B.
  5. A, B, and C.
Explanation
Answer: E. A foreign corporation is a corporation formed in another state, another country, or offshore. Since a foreign corporation is incorporated or chartered in another state or country, it must determine what it needs to qualify in order to do business in a particular state. Typically, the requirement is to complete registration paperwork.
Category: Legal Environment
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