The Revised Model Business Corporations Act States That a Director

question 82

Multiple Choice

The Revised Model Business Corporations Act states that a director is entitled to rely on information and reports provided or prepared by _ .

• A) a committee of directors of which the director is a part, if the committee merits confidence
• B) legal counsel or accountants in regard to matters that the director believes are within that professional's competence
• C) officers of a competing corporation who, the director reasonably believes, are reliable and competent
• D) employees of the Securities and Exchange Commission who are responsible for creating the proxy rules

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Definitions:

Budget Line

A graphical depiction of all possible combinations of two goods that a consumer can afford given their income and the prices of the goods.

Private Schools

Schools that operate independently of the public school system, often funded through tuition fees, private contributions, and endowments.

Public School

A school that is funded and run by the government and provides free education to students.

Budget Constraint

The limit on the consumption bundles that a consumer can afford given the prices of goods and the consumer's income.