A Classified Board Is One Which Has

question 55

Multiple Choice

A classified board is one which has:

• A)representation from various classes of stock.
• B)terms that expire at different times.
• C)both employee and non-employee directors.
• D)directors elected solely by one class of shareholders.
• E)directors that have been assigned differing numbers of votes per seat.

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Definitions:

Additional Capital

Extra funds injected into a business or investment, beyond the initial capital.

Small Business Administration Loan

A type of loan offered by the Small Business Administration (SBA) to help small businesses get started or expand with less stringent qualifying criteria than conventional loans.

Bank Loan

A sum of money lent by a bank to an individual or organization under the agreement that it will be repaid with interest.

Sole Proprietorship

A business structure in which a single individual both owns and operates the business, bearing full responsibility for its debts and obligations.