Fashions, Inc has 12 shareholders. There is no shareholder agreement concerning the board of directors. The company is subject to the Model Act. How many directors is Fashions, Inc required to have?
a. None.
b. One.
c. Two.
d. Five.
a
You might also like to view...
The risk of material misstatement related to the existence of long-lived assets at Client A is considered low, while this risk at Client B is considered high. Sufficiency of evidence for testing the existence of equipment would be higher for client B
a. True b. False Indicate whether the statement is true or false
When a parent company pays less than book value for an investment in a subsidiary, the excess of book value over the cost of the investment should be used to lower the carrying value of the subsidiary's long-term assets (other than long-term marketable securities) in preparing the consolidated financial statements
Indicate whether the statement is true or false
Positive or what is known as “good stress” is called ______.
A. hindrance-related stress B. psychological-related stress C. behavioral-related stress D. challenge-related stress
A company had net cash flows from operations of $341,000, net income of $286,000 and average total assets of $1,850,000. The cash flow on total assets ratio equals:
A. 83.9% B. 646.9% C. 542.5% D. 15.5% E. 18.4%