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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Definitions:

Empiricist Theory

A philosophical perspective emphasizing that knowledge comes primarily from sensory experience and observation rather than inherent ideas.

Observer-Expectancy Effect

refers to a cognitive bias wherein a researcher's expectations influence the participants of an experiment, potentially affecting the outcome.

Mental Age

A measure of an individual's cognitive ability compared to the average cognitive ability of an individual of a specific chronological age.

Intelligence Quotient

A numerical measure of a person's cognitive abilities in relation to their age group, often assessed through standardized tests.