Sophie and Tiny incorporate their beverage-container business as U-Twist Products, Inc The first board of directors may be appointed by the firm's
a. board of directors.
b. incorporators.
c. officers.
d. shareholders.
b
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A mutual insurance company is a(n):
a. organized group with similar interests. b. incorporated entity, without private ownership interest, operating for the benefit of its policyholders and beneficiaries. c. stock company organized to earn profits for its stockholders. d. company where policyholders participate in the earnings of a society.
A debit balance in retained earnings is referred to as a retained earnings deficit.
Answer the following statement true (T) or false (F)
The Revised Act permits the board of directors to adopt certain amendments without shareholder action, unless the articles of incorporation provide otherwise. These amendments would include:
a. extending the duration of a corporation if it was incorporated when limited duration was required by law. b. changing each issued and unissued authorized share of an outstanding class into a greater number of whole shares if the corporation has only one class of shares. c. making minor name changes. d. All of these.
Answer the following statement(s) true (T) or false (F)
1. OD practitioners are likely to be working with clients or teams from multiple countries and cultures in both face-to-face and virtual environments. 2. In countries with a low power distance, there will be more hierarchy in organizations. 3. Strong uncertainty-avoiding countries appreciate laws, policies, and regulations that dictate standards of behavior and control employee rights. 4. Management in collectivist cultures is management of the person, whose skills and abilities are rewarded if performance is high, regardless of the individual’s family background or memberships. 5. In collectivist societies, family members may commonly work together or follow in one another’s path.