Which of the Following Is an Incorrect Statement About Directors

question 49

Multiple Choice

Which of the following is an incorrect statement about directors?

• A) Their eligibility requirements may be found in the bylaws.
• B) Bylaws may require that directors be shareholders in the corporation.
• C) The board of directors has authority to manage the corporation.
• D) Courts will interfere with the board's discretion when they disagree with its actions.

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Definitions:

Payments

Transactions or transfers of money from one party to another, often in exchange for goods or services.

Annuity

A series of payments of a fixed amount for a specified number of periods.

Supplement Income

Additional income earned beyond the primary source of income, often used to meet extra expenses or save for future needs.

Going Rate

The current average or standard price for goods or services in a particular market or industry.