If a purchase or sale by an officer, director, or greater-than-10 percent shareholder that would otherwise result in recoverable short-swing profits was involuntary and did not involve the payment of cash and if there was no possibility of speculative abuse of inside information, than a court may hold that it was a(n) __________ to which no liability will attach
a. innocent transaction
b. approved negotiation
c. unorthodox transaction
d. designated sale
c
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An indorsement "Pay to John Smith and Sally Smith" requires both persons' indorsement to
negotiate the instrument. Indicate whether the statement is true or false
A company has net income of $860,000; its weighted-average common shares outstanding are 172,000. Its dividend per share is $1.35, its market price per share is $106, and its book value per share is $103.00. Its price-earnings ratio equals:
A. 1.65. B. 21.20. C. 4.35. D. 3.00. E. 20.60.
Which of the following is not a provision of the Sarbanes-Oxley Act?
A. Management must issue a report that indicates whether internal controls are effective at preventing errors and fraud. B. Executives can avoid penalties for fraud by declaring personal bankruptcy. C. Public companies must adopt a code of ethics for senior financial officers. D. Stiffer penalties for fraud in terms of monetary fines and jail time decrease the incentive to commit fraud.
_________consists of two parts: bargained-for exchange and something of legal value
Fill in the blank(s) with correct word