16. Any corporation by majority vote may elect Sub Chapter S status.

True or False

17. Articles of Incorporation are executed by promoters but generally are not necessary to form a corporation.

True or False

18. There a 9 directors of a corporation. Four of those directors are sufficient to form a quorum.

True or False

19. Shareholders may only vote by proxy if they live a certain distance away from corporate headquarters.

True or False

20. ABC Corp. is incorporated in the State of New Jersey and is doing business in New York. In New York it is properly referred to as:

A. Domestic Corporation

B. Foreign Corporation

C. Alien Corporation

D. State Corporation