A shareholder's functions includes:
A. approval of loans taken by the corporation.
B. approval of stock option plans for other shareholders.
C. election of investors.
D. approval of mergers or a voluntary dissolution.
Answer: D
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Describe common stockholder rights
Chuck, Betty, and Bert form CB&B Partnership to run a specialty grocery store. Bert is the day-to-day manager of the store, Betty buys the groceries, and Chuck does all the administrative work. Betty decides she would like a new car to use when calling on prospective wholesalers. She makes a contract with Big Ben Motors in the name of CB&B without consulting Chuck and Bert. CB&B and the
individual partners are: a. bound by Betty's actual implied authority to buy a car. b. bound by Betty's apparent authority to buy a car. c. bound by estoppel. d. not bound because buying a car is outside the scope of the partnership business.
Which of the following is not one of the major sections of the Bankruptcy Act?
a. straight bankruptcy b. reorganization c. adjustments of debts d. liquidation
Which of the following statements may an employer make without engaging in an unfair labor practice?
a. threaten to fire employees if they vote to unionize b. threaten to close operations if employees vote to unionize c. tell employees they may lose jobs if unionization leads to lower profits for the employer d. all of the other choices e. a and b