If a Corporation Has Fewer Than ________ Shareholders, the Revised

question 75

Multiple Choice

If a corporation has fewer than ________ shareholders, the Revised Model Business Corporation Act allows companies to eliminate the board of directors entirely.

• A) 100
• B) 50
• C) 30
• D) 25
• E) 10

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Definitions:

Factor Prices

The prices paid for the use of factors of production such as land, labor, and capital, which influence cost of production and economic decisions.

Output Increases

A situation where the production volume of goods or services in a company, industry, or economy rises, often due to higher demand, improved efficiency, or technological advancements.

Average Total Cost

The total cost of production divided by the quantity of output produced, representing the per-unit cost of production.

Total Cost

The aggregation of all costs, both fixed and variable, incurred by a business in producing a specific quantity of goods or services.