A Breach of Fiduciary Duties by Those Who Own a Close

question 86

True/False

A breach of fiduciary duties by those who own a close corporation normally constitutes oppressive conduct.

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Definitions:

Depreciated

The reduction in the recorded cost of an asset in accounting, reflecting wear and tear, age, or obsolescence.

Ordinary Expense

An expense that is common, accepted, necessary, and appropriate for a business or individual's trade or profession under tax law.

Advertising

The activity or profession of producing advertisements for commercial products or services to increase sales or public awareness.

Property Taxes

Taxes paid by property owners on their real estate and personal property, usually imposed by local governments based on the assessed value of the property.