Which of the Following Is a True Statement

question 81

Multiple Choice

Which of the following is a true statement?

• A) Stockholders are guaranteed annual dividends.
• B) Stockholders receive their proportionate share of any assets remaining after the corporation pays its debts and liquidates.
• C) Stockholders may authorize a business contract on behalf of the corporation.
• D) Stockholders may vote only if they physically attend the annual stockholders' meeting.

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Definitions:

Agency by Agreement

A relationship formed through an express or implied contract where one party (the agent) is authorized to act on behalf of another (the principal).

Orally Agrees

To give consent or reach an agreement on something using spoken words rather than written.

Maintain

To keep something in good condition through regular care and repair or to continue something at the same level or rate.

Employee Status

The classification of a worker as an employee under law, subject to certain legal rights, duties, and protections.