The Revised Act Permits the Board of Directors to Adopt

question 57

Multiple Choice

The Revised Act permits the board of directors to adopt certain amendments without shareholder action.These amendments would include:

• A) extending the duration of the corporation if it was incorporated when limited duration was required by law.
• B) changing each issued and unissued authorized share of an outstanding class into a greater number of whole shares if the corporation has only one class of shares.
• C) making minor name changes.
• D) All of these.

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Definitions:

Compounded Quarterly

The process where interest is added to the principal sum of a deposit or loan every quarter, so that the added interest also earns interest from then on.

Final Payment

The last payment made to settle the balance of a financial obligation, such as a loan or mortgage.

Borrower

An individual, company, or institution that receives funds from a lender under the condition of paying back the borrowed amount plus interest.

Compounded Monthly

Interest calculated monthly on the principal sum plus previously earned interest.