The RMBCA (without the 1999 amendments) grants dissenters' rights to all but which of the following?
A) Dissenting shareholders to any plan of compulsory share exchange in which their corporation is the one to be acquired
B) Dissenting shareholders to any amendment to the articles of incorporation that materially and adversely affects the dissenters' rights regarding their shares
C) Dissenting shareholders of each corporate party to a merger, other than a short-form merger, where only the dissenting shareholders of the subsidiary have dissenters' rights
D) Dissenters' rights exist under the RMBCA in all of these situations.
D
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Moreno Company began Year 1 with a balance of $300 in Sales Tax payable. During the year, the company recorded taxable sales of $92,500. The ending balance in Sales Tax payable was $445. Moreno's sales tax rate is 4%.Required:a) How much sales tax did Moreno collect during Year 1?b) How much sales tax did Moreno remit (pay to taxing authority) during Year 1?
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