Fashions, Inc. has 12 shareholders. The company is subject to the Model Act. What officers is Fashions, Inc. required to have?
A. a president, secretary, and treasurer
B. a president and a secretary, and they can be the same person
C. a president, at least one vice-president, a secretary, and a chief financial officer
D. whatever officers are described in the corporate bylaws
Answer: D
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Earline rented a drilling machine from Quatero Rental Corp. While Earline was drilling as instructed by the product manual, the drill bit snapped and injured her seriously. A thorough examination of the broken drill bit showed that it had a flaw that caused it to snap under intense heat or pressure. Under these circumstances, Quatero will ________.
A. be held liable for Earline's injuries because a bailment for the sole benefit of the bailee was created B. not be held liable for Earline's injuries because both Quatero and Earline share mutual benefits from the bailment C. not be held liable for Earline's injuries because it is a private contract carrier and is held to a lower level of responsibility D. be held liable for Earline's injuries if it knew of the flaw in the drilling machine when it rented it to Earline, but failed to warn her of the defect
The party to whom the duty is owed is the delegatee
Indicate whether the statement is true or false
A single cost pool is used when allocating overhead using the activity-based costing method.
Answer the following statement true (T) or false (F)
“Providing guidance and oversight while working to promote and recognize performance” is which of the following management functions?
a. Guidance b. Managing materials c. Supervision d. Monitoring