Which of the following statements about the directors of a corporation is true?
A. Under the Revised Model Business Corporation Act, a corporation may dispense with a board of directors in certain circumstances.
B. Directors may serve only annual terms.
C. Directors may be elected by the shareholders only.
D. The number of directors may not exceed the number of shareholders.
Answer: A. Under the Revised Model Business Corporation Act, a corporation may dispense with a board of directors in certain circumstances.
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Which of the following is an input used by organizations?
A. raw materials B. trademarks C. esprit de corps D. contingencies E. incentives
Which of the following factors should an external auditor obtain updated info about when assessing an internal auditors competence?
a. The reporting status of the internal auditor within the organization b. The educational level and professional experiences of the internal auditor c. Whether policies prohibit the internal auditor from auditing areas where relatives are employed d. Whether the board of directors, audit committee, or owner-manager oversees employment decisions related to the internal auditor