In a Closely Held Corporation,one of the Steps That Should

question 23

Multiple Choice

In a closely held corporation,one of the steps that should be taken to avoid legal difficulties is:

• A)hold annual meetings to elect officers and directors.
• B)make sure that the stockholders make all the major decisions.
• C)mingle corporate assets and the personal assets.
• D)None of the above

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Definitions:

Interest Rates

The amount charged by lenders as a percentage of the principal, as the cost for borrowing money.

Compounded Quarterly

A method of calculating interest where the accrued interest is added to the principal sum four times a year, affecting future interest calculations.

Saving Account

A savings account in a banking institution that guarantees the safety of the deposited money while offering a low interest rate.

Annual Interest Rate

The percentage of interest that will be charged or earned on an amount of money over the span of a year.