A sale of substantially all of the assets of a corporation that is in the ordinary course of business of the corporation will not require shareholder approval
a. True
b. False
Indicate whether the statement is true or false
True
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Answer the following statements true (T) or false (F)
Under entity theory, creditors are considered equity holders.
Which of the following is an incorrect statement regarding a joint venture?
A) Partnerships can form a joint venture. B) Corporations cannot form a joint venture. C) Individuals can form a joint venture. D) Joint ventures are a popular way for developing nations to attract foreign capital.
A times-interest-earned (TIE) ratio of less than 1 indicates _____.?
A. ?a less debt in the capital structure of the firm B. ?a low probability that the firm will default C. ?the firm's inability to meet its annual interest obligations D. ?that the firm is financed only by equity E. ?that the debt/assets ratio of the firm is very low
On March 2, 2019, 20-year, 6 percent, general obligation serial bonds were issued at the face amount of $3,000,000. Interest of 6 percent per annum is due semiannually on March 1 and September 1. The first payment of $150,000 for redemption of principal is due on March 1, 2020. Fiscal year-end occurs on December 31. What is the interest expense for the fiscal year ending December 31, 2019?
A. $150,000. B. $90,000. C. $135,000. D. None of the options are correct.