Unit 2 - Chapter 15 Flashcards
_____ incorporated corporations have the right to carry on business in each province
Federally
_____ incorporated corporations have the right to carry on business only in the province in which they are incorporated
Provincially
____ represents an ownership interest in the issuing corporation
Share
___ rights are the right to vote for election of directors
voting
____ rights are the right to receive dividends when declared by directors or the right to receive fixed dividends on a regular basis
financial
____ rights are the right to receive dividends before dividends may be paid to any other class of shareholders and/or the right, on dissolution, to receive investment before any payments are made to any other class of shareholder
Preference
_____ rights are the right to have a dividend not paid in a particular year added to the amount payable the following year
cumulative
____ rights are the right to have the corporation buy back the shares at a set price
redemption
____ ___ corporation means shares are normally traded on the stock exchange (available to the general public)
widely held
____ ____ or private corporation does not sell its shares to the public
closely held
Advantages of being a private corporation relate to ____ and ____
privacy, control
_____ report is a document that shows the result of a search for a business name to ensure the name is not already in use
Nuans
–> must be obtained and submitted to the gov’t corporation registration office to support the proposed corporate name when applying for incorporation
An application for incorporation must be filed. In the majority of Canada, this application is known as _____ of ______
Articles of Incorporation
Articles of Incorporation are filed along with Notice of _____ and Notice of ____. Fee is paid. If in order, a “Certificate of Incorporation” will be issued
Directors, Address
____ is a document evidencing a debt owed by the corporation, often used to refer to a secured debt.
Bond
