The Revised Act Permits the Board of Directors to Adopt

question 39

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:

Direct Labor Hours

A measure of the total hours worked by workers who are directly involved in the manufacturing process.

Small Table Lamp Production

The manufacturing process involved in creating small, portable lighting devices designed to stand on tables.

Single Plantwide Rate

An accounting method applying one overhead cost rate to all products, regardless of the department in which they were produced, simplifying the allocation of manufacturing overhead costs.

Painting Department

A specific section within a manufacturing or production facility responsible for the application of paint or coatings to products as part of the finishing process.