____ Requires That Directors of a Corporation Place the Interests

question 300

Multiple Choice

____ requires that directors of a corporation place the interests of the corporation before their own interests.

• A) preferential duty
• B) duty of care
• C) fiscal duty of loyalty
• D) real duty of loyalty
• E) none of the other choices are correct

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Definitions:

Straight-Line Method

A method of calculating depreciation of an asset, which assumes the asset will lose an equal amount of value each year over its useful life.

Residual Value

The estimated value that an asset will have at the end of its useful life, also known as salvage value.

Gain Or Loss

The difference between the selling price and the purchase price of an asset, resulting in a financial profit or loss.

Disposal Of Equipment

The process of selling, scrapping, or eliminating machinery or equipment that is no longer needed.