The Revised Act Permits the Board of Directors to Adopt

question 28

Multiple Choice

The Revised Act permits the board of directors to adopt certain amendments without shareholder action, unless the articles of incorporation provide otherwise. These amendments would include:

• A) extending the duration of a corporation if it was incorporated when limited duration was required by law.
• B) changing each issued and unissued authorized share of an outstanding class into a greater number of whole shares if the corporation has only one class of shares.
• C) making minor name changes.
• D) All of these.

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Definitions:

Wealth

The accumulation of significant monetary assets or tangible properties that are easily transferrable into a usable form for trade or transactions.

Contribute

To give or supply in common with others; providing a portion towards a common end, such as in a project or a pool of resources.

Benefit

An advantage or profit gained from something.

Long-Run Equilibrium

A state in which all aspects of the market, including supply and demand, are balanced over a sustained period.