This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Fashions, Inc has 12 shareholders. The company is subject to the Model Act. What officers is ... (Read 74 times)

nummyann

  • Hero Member
  • *****
  • Posts: 576
on: Jun 24, 2018
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

Question 2

Jenny is an officer of a corporation. She made a difficult business decision. When challenged about her decision, the court ruled she had acted in good faith and that the business judgment rule applied. As such
 A) Jenny will not be held personally liable for any harm her decision has caused the company.
 B) Jenny's decision will be reviewed by a court.
 C) Jenny is immune from a lawsuit.
 D) Jenny must resign from the board.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

janeli1

  • Sr. Member
  • ****
  • Posts: 330
Reply #1 on: Jun 24, 2018
Answer to Question 1

D

Answer to Question 2

A


nummyann

  • Member
  • Posts: 576
Reply 2 on: Jun 24, 2018
Wow, this really help

nothere

  • Member
  • Posts: 324
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Did you know?

The longest a person has survived after a heart transplant is 24 years.

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

An Alternative Model of Global Stratification An Alternative Model of Global Stratification
The location of the variable fuel sensor can vary, depending on the make and model of vehicle, but ... The location of the variable fuel sensor can vary, depending on the make and model of vehicle, but ...
Visual tracking of a pendulum by a normal control subject (top) and three schizophrenics. (Adapted ... Visual tracking of a pendulum by a normal control subject (top) and three schizophrenics. (Adapted ...
Schematic of a mitochondrion and Computer model generated from electron tomograms of a mitochondrion Schematic of a mitochondrion and Computer model generated from electron tomograms of a mitochondrion
Model depicting how genetic recombination Model depicting how genetic recombination
Allyl isothiocyanate, ball and stick model Allyl isothiocyanate, ball and stick model
Video: Lipid absorption - end products & transport mechanism

For a complete list of videos, visit our video library