Which of the Following Best Describes the Function of the By-

question 19

Multiple Choice

Which of the following best describes the function of the by- laws of a corporation?

• A) They regulate the rights of creditors who hold a secured equity position.
• B) They contain the licensing statutes of the jurisdiction(s) where the corporation operates.
• C) They provide the general operating rules to run the business of the corporation.
• D) They describe acts which are illegal and for which the directors of a corporation can be punished by law.
• E) They are filed with the incorporating papers and take a special shareholders resolution to change their contents.

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Definitions:

Taste

One of the five senses, it is the perception of flavor perceived in the mouth and throat on contact with a substance.

Olfaction

The sense of smell, an important sensory system allowing for the detection and identification of odors in the environment.

Audition

The sense of hearing; the perception of sound.

Vestibular Sense

A sensory system responsible for providing our brain with information about motion, head position, and spatial orientation; it also helps with balance and eye movements.