Personal Liability for a Corporate Board Member Means That

question 72

Multiple Choice

Personal liability for a corporate board member means that

• A) directors have a legal obligation to pay all debts of the corporation.
• B) directors have a legal obligation to pay all debts of the corporation if the company cannot.
• C) directors may be sued for breach of fiduciary duty.
• D) directors have a personal responsibility to the shareholders.

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Definitions:

Aerobic Respiration

A metabolic process involving oxygen in the breakdown of glucose or other nutrients to produce energy (ATP), carbon dioxide, and water, taking place in the mitochondria of cells.

Photosynthesis

The process by which green plants and some other organisms use sunlight to synthesize foods from carbon dioxide and water, producing oxygen as a byproduct.

Carbon Dioxide

An invisible, scentless gas that is a product of combusting carbon-based substances and breathing processes, which is utilized by plants during the photosynthesis.

Glycolysis

The metabolic pathway that converts glucose into pyruvate, releasing energy and pyruvic acid as end products.