If a Corporation Has Fewer Than Fifty Shareholders,the Revised Model

question 65

Multiple Choice

If a corporation has fewer than fifty shareholders,the Revised Model Business Corporation Act allows companies to ________.

• A)choose not to file articles of incorporation
• B)eliminate the board of directors altogether
• C)have as few as seven corporate directors
• D)have as few as five corporate directors
• E)have as few as three corporate directors

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Definitions:

Nauseous

Experiencing a sensation of unease and discomfort in the stomach with an urge to vomit.

Gasoline

A volatile, flammable liquid derived from petroleum, used primarily as fuel in internal combustion engines.

Social Influence

The effects of other people on an individual’s beliefs, attitudes, values, or behavior.

Individual's Beliefs

Refers to the personal convictions or acceptances that something is true or exists, varying greatly from one person to another.