Under the MBCA,a Corporation Does Not Need Shareholder Approval to Purchase

question 19

Multiple Choice

Under the MBCA,a corporation does not need shareholder approval to purchase securities out of:

• A)equity surplus.
• B)unrestricted earned surplus.
• C)capital surplus.
• D)restricted earned surplus.

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Definitions:

Compliment

An expression of praise, admiration, or congratulation towards someone, often used as a social or professional courtesy.

Shower Enclosure

A structure that surrounds a shower area to contain water spray, usually made from glass, plastic, or tiles.

Order

A request by a customer to purchase goods or services from a seller, often formalized through a document or online process.

Delivery

The process of transporting goods from one place to another or the act of handing over something to a recipient.