Which of the Following Is Correct Concerning the Management of Close

question 12

Multiple Choice

Which of the following is correct concerning the management of close corporations?

• A)The MBCA Statutory Close Corporation Supplement grants the shareholders unlimited power to restrict the discretion of the board of directors.
• B)Modern close corporation statutes require close corporations to comply with most management formalities.
• C)The MBCA Statutory Close Corporation Supplement permits a close corporation to dispense with shareholders and directors.
• D)The California General Corporation Law permits a close corporation to be managed as if it were a sole proprietorship.

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