Question 15 A corporation may not be prosecuted and convicted of: a criminal offense if its agent committed the offense while acting within the scope of the agent's authority. an error in business judgment, assuming that no other reasonable corporation would have committed such an error. operating without a corporate charter if the corporation has never sought a charter from the secretary of state's office, or if its directors and/or officers either knew of should have known that the secretary of state's office had revoked the charter. a criminal offense if its agent committed the offense while acting outside the scope of the agent's authority. Question 16 Stockholders may seek to protect themselves against corporate actions that they object to include all of the following: voting in new directors. Obringing legal action. Ovoiding the charter. calling a special stockholders' meeting.

Question 15 A corporation may not be prosecuted and convicted of: a criminal offense if its agent committed the offense while acting within the scope of the agent's authority. an error in business judgment, assuming that no other reasonable corporation would have committed such an error. operating without a corporate charter if the corporation has never sought a charter from the secretary of state's office, or if its directors and/or officers either knew of should have known that the secretary of state's office had revoked the charter. a criminal offense if its agent committed the offense while acting outside the scope of the agent's authority. Question 16 Stockholders may seek to protect themselves against corporate actions that they object to include all of the following: voting in new directors. Obringing legal action. Ovoiding the charter. calling a special stockholders' meeting.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter17: The Management Of Cash And Marketable Securities

Section: Chapter Questions

Problem 13QTD

See similar textbooks

Similar questions

Which of the following statement is true of a corporation’s by-laws? A corporation’s by-laws, being an intramural document, only binds corporate insiders. A corporation’s by-laws, being and intramural document binding on corporate insiders, cannot be dispensed with and any act done by corporate insiders in violation thereof is null and void. A corporation’s by-laws, being an intramural document, binds only corporate insiders and such third parties with actual knowledge of its contents. A corporation’s by-laws, being a public document on record with the SEC, binds all parties.
A court does not have the power to remove a director when: Multiple Choice petitioned by shareholders. it finds that the director engaged in fraudulent conduct. it finds that the director intentionally inflicted harm on the corporation. it believes removal would help the corporation operate more globally responsibly.
When a corporation is dissolved due to fraud, graft, and corruption, can innocent employees and stockholders have claims over the asset of the corporation after satisfying all its liabilities?
Contraventions of the Corporations Act that are considered significant include: O a fraud by officers or employees of the entity. O b. insolvent trading. O c. breaches of accounting standards. O d. all are correct.
A corporation incurred liabilities to its suppliers. The suppliers filed a case against the board of directors of the corporation. The court dismissed the case based on the ground that the liabilities to the suppliers only belong to the corporation, not its board of directors. What principle is being applied in this scenario? Separate and distinct personality of the corporation None of the above Corporation has a right of succession Corporation is created by operation of law
. A prohibition in the articles of incorporation and by-laws that none of the stockholders shall engage in similar competing of antagonistic business or activity to what the corporation is primarily engaged in – is a valid and reasonable exercise of corporate authority is not a reasonable exercise of corporate powers is no in consonance with the business judgement rule is in violation of fair competition in an industry
Help! True or false In case of conflict between the by-laws and the corporation code, the code shall prevail. (Explain why)
Which is not a mode of involuntary dissolution of a corporation? a. Legislative revocation of franchise b. Judicial decree c. Order of the SEC d. Expiration of corporate term
Based on "People vs Tan Boon Kong" (1930) IF A CORPORATION COMMITS A CRIMINAL OFFENSE, HOW CAN IT BE PUNISHED?
the relative lack of government regulation is an advantage of corporate form of business true false
20. (A) The corporation’s capacity is limited to such express, implied and incidental powers. (B) A corporation is a juridical entity vested with a legal personality that is separate and distinct from those acting for and its behalf, and in general from the people comprising it. * A. Only A is correct. B. Only B is correct. C. Both are correct D. Both are incorrect
What are the auditor’s responsibilities under the Corporations Act toreport breaches of the Act? Who does the auditor report to?