The directors of MegaCorp learn that an outsider is planning on buying enough voting stock to get herself elected to the board of directors. MegaCorp, which has cumulative voting, quickly puts together a vote of shareholders to eliminate the company's cumulative voting procedure. The shareholders vote to do away with cumulative voting. The outsider, Dawn, who wanted to get herself elected to
MegaCorp's board, claims that the company has committed an illegal act. Is she right?
a. Yes. The United States Supreme Court has ruled that a publicly held corporation that purposefully sets about to eliminate cumulative voting to prevent a person from getting herself elected to the board has acted illegally.
b. Yes, but only if the company is incorporated in a state that has adopted the Model Act.
c. No, provided the company did not change its cumulative voting provision solely for the purpose of preventing a particular person from taking advantage of that right.
d. No. Under the Model Act, regardless of MegaCorp's motives, it had the right to act as it did.
d
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Mustin, Inc purchased equipment for $50,000 . The equipment had an estimated useful life of eight years and an estimated residual value of $6,000 . After five years of use, the estimated residual value is changed to $9,000 . Assuming straight-line depreciation, depreciation expense in year 6 would be
a. $4,500. b. $5,500. c. $5,125. d. $7,500.
Answer the following statement(s) true (T) or false (F)
1. The fourth generation of computers was characterized by transistors, which are small switches that control electrical current. 2. Very large-scale integration (VLSI) circuits consist of a superchip created from extremely compact transistors and circuits on a silicon chip. 3. A server is a smaller version of a mainframe and performs many of the same functions as a mainframe but does not have the same data storage capacity. 4. Computers used by business and industry are classified as large, medium, and small. 5. PDAs are small handheld computers.
Carroll, Daniels, and Elmore organized their veterinary practice as a professional corporation. This organization of professionals will be treated as a partnership for liability purposes
a. True b. False Indicate whether the statement is true or false
MRP II is accurately described as:
A) MRP software designed for services. B) MRP with a new set of computer programs that execute on microcomputers. C) material resource planning. D) an enhancement of MRP that plans for all levels of the supply chain. E) a new generation of MRP software that extends MRP to planning and scheduling functions.