The Revised Act Permits a Corporation to Purchase, Redeem, or Otherwise

question 79

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 then 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 are correct.
• D) None of these are correct.

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Definitions:

Heterosexism

A system of attitudes, bias, and discrimination in favor of opposite-sex sexuality and relationships, often marginalizing non-heterosexual behaviors, identities, and communities.

Oppression

A system of discrimination and exclusion that prevents individuals or groups from having equal rights, opportunities, and treatment.

Gender-typing

involves the process through which individuals come to possess behaviors, attitudes, and traits that are generally considered appropriate for their gender in a cultural context.

Gender

The characteristics, roles, and expectations that societies or cultures define as appropriate for men and women.