The Revised Act authorizes the articles of incorporation to include a provision eliminating or limiting, with certain exceptions, the liability of a director to the corporation or its shareholders for any action he takes, or fails to take, as director. These limitations or exceptions, for which liability would not be affected, include:
a. the amount of any financial benefit the director receives to which he is not entitled, such as a bribe, kickback, or profits from a usurped corporate opportunity.
b. an intentional infliction of harm on the corporation or the shareholders.
c. liability under Section 8.33 for unlawful distributions.
d. an intentional violation of the criminal law.
e. All of these are correct.
e
You might also like to view...
In the context of SWOT analysis, a strength of an organization can be:
a. favorable government policies. b. lack of competitors. c. superior production technology. d. component lifestyles.
On January 4, Year 1, Barber Company purchased 11,500 shares of Convell Company for $138,000 plus a broker's fee of $3600. Convell Company has a total of 57,500 shares of common stock outstanding and it is presumed the Barber Company will have a significant influence over Convell. During each of the next two years, Convell declared and paid cash dividends of $0.75 per share, and its net income was $111,000 and $106,000 for Year 1 and Year 2, respectively. The January 12, Year 3, entry to record Barber's sale of 6900 shares of Convell Company stock, which represents 60% of Barber's total investment, for $93,150 cash should be:
A. Debit Cash $93,150; credit Gain on Sale of Investment $8190; credit Equity Method Investments $84,960. B. Debit Cash $93,150; debit Loss on Sale of Investment $48,450; credit Equity Method Investments $141,600. C. Debit Cash $93,150; credit Gain on Sale of Investment $17,250; credit Equity Method Investments $75,900. D. Debit Cash $93,150; debit Loss on Sale of Investment $7500; credit Equity Method Investments $100,650. E. Debit Cash $93,150; debit Loss on Sale of Investment $17,250; credit Equity Method Investments $110,400.
Error terms that are autocorrelated ____________________ (are/are not) independent
Fill in the blank(s) with correct word
One significant component of _____ can be the investment a seller makes in equipment or in the hiring of skilled employees to supply the product or service to the buyer
a. economic costs b. transaction costs c. opportunity costs d. retention costs