Which of the Following Statements Is Not True

question 64

Multiple Choice

Which of the following statements is not true?

• A)Corporations are required by law to have two stockholder meetings each year.
• B)Stockholders must approve any amendment of the corporate charter.
• C)Stockholders must approve the sale of certain corporate assets.
• D)Corporations are required by law to distribute annual reports.
• E)Stockholders may vote in person or by proxy.

---

Definitions:

Financial Position

An overview of a company's financial status, including assets, liabilities, and equity at a specific point in time.

Accounts Receivable

Unpaid revenue from customers for services or goods a company has provided.

Display Counters

Furniture or fixtures used in retail settings to showcase products to customers prominently.

Average Tax Rate

The ratio of the total amount of taxes paid to the total tax base (taxable income or spending), showing the fraction of income or expenditure paid in taxes.