Which of the following is untrue about fundamental changes of corporations?
a. Fundamental changes include charter amendments, mergers, consolidations, and dissolution.
b. Fundamental changes of corporations are authorized by state incorporation statutes.
c. Shareholder approval for fundamental changes usually needs to be unanimous.
d. The 1999 revisions to the RMBCA contained substantial revisions to the RMBCA's treatment of fundamental changes.
c
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Which of the following investments should be classified as cash equivalents for Lastima Company in preparing the statement of cash flows? 1 Shares of stock in Lastima Company. 2 A one-month Treasury note purchased by Lastima Company when only 3 months remained in the note's term. 3 Share in a money market fund purchased by Lastima Company; the fund purchases only investment grade corporate debt
instruments with maturities of 2 months or less. 4 A one-year treasury note purchased by Lastima Company when the treasury note was issued, which now has only 2 months remaining in its term. a. 2, 3 b. 2, 4 c. 2, 3, 4 d. 1, 2, 3, 4
______ type of risk occurs due to cost escalations because actual services required by the client varied from the estimates or the costs were not calculated in the first place.
A. Cost risks B. Failure to deliver the needed services on time C. Failure to realize the expected cost savings D. Security risks
If the allowance method of accounting for uncollectible receivables is used, which ledger account is credited to write off a customer's account as uncollectible?
A) Uncollectible accounts expense B) Accounts receivable C) Allowance for bad debts D) Interest expense
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Indicate whether the statement is true or false