The Revised Act Permits a Corporation to Purchase,redeem,or Otherwise Acquire

question 19

Multiple Choice

The Revised Act permits a corporation to purchase,redeem,or otherwise acquire its own shares unless:

• A) the corporation's total assets after the distribution would be less than the sum of its total liabilities and the maximum amount that would be payable for all outstanding shares having preferential rights in liquidation.
• B) the corporation would be unable to pay its debts as they became due in the usual course of its business.
• C) Both of these.
• D) None of these.

---

Definitions:

Genetic Mutation

A permanent alteration in the DNA sequence that makes up a gene, which can lead to differences in physical appearance, disease, or no effect at all.

Amino Acids

Organic compounds that serve as the building blocks of proteins, characterized by an amino group, a carboxyl group, and a unique side chain.

Hydrogen Ions

Positively charged ions (H+) that contribute to acidity when in solution.

Hydroxide Ions

Negatively charged ions (OH-) that consist of oxygen and hydrogen, crucial for various chemical reactions, including those determining acidity or basicity (pH).