Directors Have a Personal Liability for All of the Following

question 42

Multiple Choice

Directors have a personal liability for all of the following except

• A)losses from a corporate ultra vires act.
• B)failure to make filings under corporate legislation.
• C)employee wages outstanding on bankruptcy.
• D)dividends that impair the corporate capital.
• E)None of the responses are correct.

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Definitions:

Income

The income earned, particularly consistently, from employment or investment returns.

Ordinal Utility

A concept in economics that describes how consumers rank different bundles of goods, reflecting preferences in terms of order rather than quantifiable satisfaction.

Cardinal Utility

A concept in economics that assumes utility can be measured in absolute numbers, allowing for quantifiable comparisons between satisfaction levels.

Market Baskets

A set of consumer products or services used to track price changes and inflation over time.