Some Courts Have Held That Certain Shareholders Are Fiduciaries of Each

question 87

Multiple Choice

Some courts have held that certain shareholders are fiduciaries of each other.These are shareholders of:

• A)close corporations.
• B)open corporations.
• C)publicly traded corporations.
• D)nonprofit corporations.

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Definitions:

National Saving

The total amount of savings in a country, which is comprised of both private savings by households and the savings of the government, representing the difference between a nation’s income and consumption.

Open Economy

An economy that allows for trading and financial transactions with other countries.

Investment

Refers to the purchase of goods that are not consumed today but are used in the future to create wealth, such as purchasing machinery for a factory.

Net Capital Outflow

The difference between domestic residents’ investments abroad and foreigners’ investments in the domestic economy.