Directions: Choose the Best Answer Based on the Information You

question 11

Multiple Choice

Directions: Choose the best answer based on the information you read in Chapter 14. ​ Identify the adjective phrase: I brought the purse that my sister gave me.

• A)brought
• B)purse
• C)that my sister gave me
• D)my sister

Recognize the requirements and qualifications for being a corporate director.

Analyze scenarios involving corporate decision-making and liability issues.

Explain the concept of ultra vires acts in corporations and the legal remedies available.

Describe the ethical and legal responsibilities of directors in conflict of interest situations.

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Definitions:

Retirement Fund

A pool of funds contributed to by individuals, employers, or both for the purpose of funding an employee's retirement.

Gross Pay

The gross income of an employee, which is the sum of all earnings before deductions or taxes are applied.

Deductions

Expenses or amounts subtracted from gross income to reduce the taxable income.

FICA-OASDI

Refers to the Social Security portion of the Federal Insurance Contributions Act tax, covering both the Old Age, Survivors, and Disability Insurance.