Under the MBCA, a Director

question 10

Multiple Choice

Under the MBCA, a director:

• A) will not have dissented if he or she refuses to vote for the proposed course of action.
• B) will not have dissented even if he or she makes his or her dissent clear to the other board members by having it appear in the minutes.
• C) will have dissented if he or she gives a written notice of dissent immediately following the meeting.
• D) will have dissented if he or she waits for three months after the meeting to bring up dissent.

---

Definitions:

Finished Goods

Products that have completed the manufacturing process and are ready for sale.

Conversion Cost

The combined costs of direct labor and manufacturing overheads that are incurred to convert raw materials into finished goods.

Production Process

The sequence of operations or activities involved in converting raw materials and components into finished goods or services.

Process Costing

A costing method used for homogeneous products that are produced in a continuous process, allocating costs over the entire production run.