Phyllis Is a Director for CattleBreeders, Inc

question 114

Multiple Choice

Phyllis is a director for CattleBreeders, Inc. Phyllis has the right to

• A) participate in board meetings only.
• B) inspect corporate books only.
• C) participate in board meetings and inspect corporate books.
• D) None of these choices is correct.

---

Definitions:

Default

Failure to pay a debt when it is due.

Mortgage

A legal agreement by which a bank, building society, etc. lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

Real Property

Land, buildings, and anything permanently attached to them, recognized as real estate or immovable property.

Credit Cards

Financial tools issued by banks that allow users to borrow money up to a certain limit to purchase items or withdraw cash.