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In Order to Take Advantage of the Business Judgment Rule,directors

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True/False

In order to take advantage of the business judgment rule,directors must have made an informed decision and have no conflict of the interest with the corporation.

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Definitions:

Payroll Taxes

Fees applied to employers and employees, typically based on a percentage of the salaries paid by employers to their employees.

Employer's Portion

The part of payroll taxes and benefits expenses that an employer is responsible for, as opposed to the portion paid by employees.

Gross Earnings

The total income earned by an individual or business before any deductions or taxes are applied.

Net Earnings

The profit determined after all expenses and taxes have been subtracted from total revenue.

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