Recently Enacted Listing Requirements of the New York Stock Exchange

question 53

Multiple Choice

Recently enacted listing requirements of the New York Stock Exchange focuses attention on independent directors. How does the NYSE define an independent director?

• A) No material relationship with the listed corporation
• B) Not a member of corporate management
• C) Owns fewer than 10,000 shares of the corporation's stock
• D) Does not meet regularly with the board of directors

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Definitions:

Assets

Resources owned by a business or individual that have economic value and can provide future benefits.

Supplies

Items used in the operation of a business or part of inventory not yet sold.

Equipment

Tangible property owned by a business used in its operations over an extended period.

Service Company

Business that provides a service.