From the list of statements below, choose FIVE $(5).$ For each statement that you choose:

Answer the statement as True or False.

Explain or expand on yow answer in a minimwon of bluee sentences. This is to say that $3$ sentences are sufficient, as long as they are good, substantive sentences. Repeating the guestion does not cowut as a sentence.

PLEASE REMEMBER to include a citation or a lunk to the source you relied upon in responding to yow question. It's fine to use the textbook and$/$or my notes$-$just indicate this in yow response. Ir's also fine to use a reliable oucide sowre.

Yow acriviy grade will be based upon the subsronce of your response, the $3$ sentence minimwm, and your inclusion of a ciration.

$3.$ Upload your completed activity to Blackboard.

Zach decided to incorporate his business under the name of "Zamm." In addition to "Zamm," the Model Act requires that Zach include one of the following words: "corporation," "incorporated," "limited," or "company" or an abbreviation thereof.

Under corporate law, a corporation that officially states its purpose is $"$to engage in any lawful activity for which corporations may be organized under the General Corporation Law of Idaho" is too broad. A corporation's purpose must be more narrowly defined.

Incorporators are required to sign the charter, deliver it to the proper state officials, and purchase a certain percentage of the initial stock offering.

Preferred stock is the last stock in line for any corporate payouts, including dividends and liquidation payments.

Terminating a corporation is a three$-$step process: dissolution, winding up$,$ and termination.