Under the RMBCA,if a Quorum Exists,a Shareholder Action Such as the Election

question 75

True/False

Under the RMBCA,if a quorum exists,a shareholder action such as the election of directors is approved if the votes cast for the action exceed the votes cast against it.

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Definitions:

Retained Earnings

The portion of net income that is kept by a company instead of being paid out as dividends to shareholders, contributing to the company's equity.

Paid-in Capital

The amount of money that a company receives from its shareholders in exchange for shares of stock.

Declaration Date

The date on which a company's board of directors announces its intention to pay a dividend.

Incorporation Date

The date on which a company was legally registered or incorporated and started its existence as a corporate entity.