Rhea Is a Director of Spex Corporation,which Makes and Sells

question 7

Multiple Choice

Rhea is a director of Spex Corporation,which makes and sells sunglasses and other eyewear.As a Spex director,Rhea sits on the board,which

• A)governs Spex.
• B)is governed by the Spex incorporators.
• C)is governed by the Spex officers.
• D)is governed by the Spex shareholders.

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Definitions:

Fixed Asset

A fixed asset is a long-term tangible piece of property or equipment that a firm owns and uses in its operations to generate income, and is not expected to be consumed or converted into cash within a year.

Usefulness

The degree to which something serves a practical purpose or satisfies a need.

Physical and Functional

Characteristics referring to the tangible aspects and performance capabilities of an asset or system.

Fixed Asset

Long-term tangible property, plant, or equipment that a company owns and uses in its operations to generate income, not expected to be consumed or converted into cash within a year.