Charles Owns 1,000 Shares of Stock in Temperan,Inc

question 45

Multiple Choice

Charles owns 1,000 shares of stock in Temperan,Inc.Charles wants to obtain corporate records including the corporation's minute book and accounting records.Under the Model Act,Charles is entitled to this information if he requests it in good faith and

• A)he has a proper purpose.
• B)he owns at least 1 percent of the company or $2,000 of stock.
• C)he is an employee of Temperan.
• D)he is a controlling shareholder.

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Definitions:

Demand

In economics, the quantity of a good or service that consumers are willing and able to purchase at various prices during a given period.

Copyrights

Legal rights given to creators over their creations, granting them exclusive rights to use and distribute their work for a certain period of time.

Marginal Cost

The hike in overall cost that comes with the assembly of an extra unit of a product or service.

Elasticity

A measure in economics to show how much the quantity demanded or supplied of a good responds to a change in price or other factors.