Which of the Following Is a Term for a Requirement

question 26

Multiple Choice

Which of the following is a term for a requirement that a minimum number of directors be present at a meeting for decisions made at the meeting to be valid?

• A) Quorum
• B) Substantial group
• C) Adequate group
• D) Adequate assembly
• E) Substantial assembly

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Definitions:

Cash Basis Accounting

A financial recording approach where earnings and outlays are only acknowledged upon the receipt or payment of cash.

Accrual Basis Accounting

A financial recording system in which earnings and expenditures are logged when they happen, not necessarily when the payment is made or received.

Return on Assets

A financial ratio that measures how effectively a company is using its assets to generate profit, typically expressed as a percentage.

Debt Ratio

Debt ratio is a financial ratio that measures the extent of a company’s leverage, calculated by dividing total liabilities by total assets.