Which of the following must be true for a corporation to elect statutory close corporation status?
A) The corporation must have 100 or more shareholders.
B) The corporation must have 50 or fewer shareholders.
C) The corporation must contain a board of directors.
D) The corporation must have a set of bylaws.
B
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Shlomtza's Sheets has its checking account plus a line of credit with Superficially Friendly Bank. It draws from its credit line and uses the funds to add to its inventory. What are the results of the actions in the above question for Superficially Friendly Bank?
a) Its total assets and total liabilities both increase b) Its total assets increase and total liabilities decease c) Its total assets and total liabilities both decease d) Its total assets decrease and total liabilities increase e) Its total assets are unchanged and total liabilities increase f) Its total assets and total liabilities are both unchanged
Which of the following parts of the IMF gives the final approval for the quota a state seeking to join the IMF should pay?
A. member states having at least 85 per cent of the total vote share B. all the member nations of the IMF C. the IMF Board of Governors D. the IMF Executive Board