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ArapCo Inc has been holding itself out as corporation for the last 2 years. However,...

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Accounting

ArapCo Inc has been holding itself out as corporation for the last 2 years. However, ArapCo has failed to finish complying with Californias statutory requirements. It has filed forms. However those forms are incomplete. ArapCo has payed taxes to California. On all of its contracts with vendors ArapCo contracts as ArapCo Incorporated. A] In its suit against ArapCo vendor DJ-Money discovers ArapCos non-compliance. DJ-money decides to amend its suit to go after the board of directors personal assets. Will his pursuit prove successful? Explain.

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