Which of the Following Is Untrue About Fundamental Changes of Corporations

question 7

Multiple Choice

Which of the following is untrue about fundamental changes of corporations?

• A) Fundamental changes include charter amendments, mergers, consolidations, and dissolution.
• B) Fundamental changes of corporations are authorized by state incorporation statutes.
• C) Shareholder approval for fundamental changes usually needs to be unanimous.
• D) The 1999 revisions to the RMBCA contained substantial revisions to the RMBCA's treatment of fundamental changes.

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Definitions:

Profit Center

A segment or department within a business that is responsible for generating its own revenue and profits.

Revenue Center

A division or unit within an organization responsible for generating revenue through its operations and activities.

Gross Profit

The financial metric that represents the difference between revenue and the cost of goods sold before accounting for other expenses.

Department

A distinct area, division, or branch of an organization with specific roles or functions.