Which of the following is the effect of the business judgment rule regarding the liability of officers and directors?
A) Courts will not substitute their judgment for that of the board or an officer acting in good faith with due care.
B) Officers and directors will never have liability for their decisions relating to the corporation.
C) Officers and directors may have liability for bad faith decisions, but cannot be liable for failure to act.
D) Directors and officers will not be held liable for conduct that is only negligent.
A
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Which of the following is not one of the steps for recognizing revenue?
A) Identify the performance obligations of the contract. B) Identify the contract with the customer. C) Estimate the total transaction price of the contract based on the sum of the stand-alone selling prices of the goods and services in the contract. D) Allocate the transaction price to the performance obligations.
The terpsichorean was familiar with the risks associated with various moves, the accountant knew financial risks forwards and backwards, while the civil engineer could quantify the risks associated with distributed loads on the temporary stage
Their input was used as part of: A) A brainstorming meeting approach to risk factor identification. B) The Delphi method approach to risk factor identification. C) A past history approach to risk factor identification. D) A multiple assessments approach to risk factor identification.