Answer the following statement(s) true (T) or false (F)
1. Directors are granted the statutory right to receive compensation for their services.
2. With the possible exception of statutory close corporations, all business corporations are required to elect a board of directors and to have a board of directors at all times.
3. In states following the Model Business Corporation Act, corporations must have a board of directors that consists of at least three directors.
4. Directors may be removed by the officers of
the corporation.
1. FALSE
2. TRUE
3. FALSE
4. FALSE
You might also like to view...
Suppose the Fed follows the Taylor rule. Which of the following is likely to happen if the Fed overestimates potential output??
A. ?The inflation rate will rise. B. The federal funds rate will fall.? C. ?The money supply will decrease. D. ?The income tax rates will increase.
A gain or loss that qualifies for extraordinary treatment on the income statement must have which of the following qualities? I. Unusual in Nature II. Discontinued Segment III. Infrequent in Occurrence IV. Nonoperating in Nature V. Never Occurred
a. I and V b. III and IV c. I and III d. I, II, and III
Facilitating functions performed by intermediaries include a variety of activities, including financing and market research.
Answer the following statement true (T) or false (F)
The use of euphemisms eliminates the need to use negative terms that may suggest unpleasant ideas
Indicate whether the statement is true or false