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Question
Which of the following is correct concerning the management of close corporations?
A. The MBCA Statutory Close Corporation Supplement grants the shareholders unlimited power to restrict the discretion of the board of directors.
B. Modern close corporation statutes require close corporations to comply with most management formalities.
C. The MBCA Statutory Close Corporation Supplement permits a close corporation to dispense with shareholders and directors.
D. The California General Corporation Law permits a close corporation to be managed as if it were a sole proprietorship.
Answer
This answer is hidden. It contains 123 characters.
Related questions
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B. 1970
C. 1981
D. 1976
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C. tolerances.
D. blocs.
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The term "Superfund" refers to:
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Which of the following was the earliest federal legislation enacted to protect water bodies against pollution?
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A. Comprehensive Environmental Response Compensation and Liability Act
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A. Section 7 of the Clayton Act
B. The Robinson-Patman Act
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C. fined up to $150,000 without an imprisonment.
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Q:
The maximum penalty for a criminal violation of the 1933 Act is a:
A. $20,000 fine and one year imprisonment.
B. $10,000 fine and five years' imprisonment.
C. $20,000 fine and five years' imprisonment.
D. $10,000 fine and one year imprisonment.
Q:
Nast Corp. orally engaged Baker & Co., CPAs, to audit its financial statements. The management of Nast informed Baker that it suspected the accounts receivable were materially overstated. Although the financial statements audited by Baker did, in fact, include a materially overstated accounts receivable balance, Baker issued an unqualified opinion. Nast relied on the financial statements in deciding to obtain a loan from Century Bank to expand its operations. Nast has defaulted on the loan and has incurred a substantial loss. If Nast sues Baker for negligence in failing to discover the overstatement, Baker's best defense would be that:
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Q:
In which of the following contexts is a professional most likely to experience a nonclient action?
A. An accountant who prepares and audits financial statements of companies.
B. A consultant who gives advice to companies for improving performance.
C. A securities broker who provides investment advice to retail investors.
D. An attorney who advises companies on corporation and business laws.