With Respect to Liability for Improper Dividends, a Non-Breaching Director

question 31

True/False

With respect to liability for improper dividends, a non-breaching director and an innocent shareholder are both fully protected from any liability for repayment due to their good faith.

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Definitions:

Government Purchases

Expenditures by government entities for goods and services that are directly consumed or used in providing public services.

Resources

The total means available for economic and political development, such as mineral wealth, labor force, and armaments.

Government Purchases

Expenditures by government bodies on goods and services that directly absorb resources or satisfy human wants.

Tax Freedom Day

Tax Freedom Day represents the day of the year by which a nation’s citizens have collectively earned enough income to pay their total tax bill for the year, symbolizing the tax burden on taxpayers.