Lon and Merry het as the incorporators for NuGame Corporation. Afier the first b
ID: 382786 • Letter: L
Question
Lon and Merry het as the incorporators for NuGame Corporation. Afier the first board of direatos n ubsequent directors are elected by n majority vote of NuGames n incorporntors e. board of directors. s. Utility Power Company has the right to run its power lines across Velma's land. This is a. a profit b. tenancy at sufferance c a license 9. Bret and Co urtney form Delite Day Care, Inc. Ultimate responsibility for policy decisions necessary to the management of corporate affairs rests with Delite's a. officers c, board of directors. d. shareholders. Financial Innovations, Inc., issues bonds, which are also known as a. preferred stock b. debt securities C. equity securities d. cumulative investments Pedro's l. Oak Grove Residences, Inc., owns apartment buildings. Pedro leases one of Oak Grove's ap transfer of his interest in the lease to Quito for a period shorter than the lease term is a. an assignment b. a sublease c. a right of entry d. an eviction. 2. Dag and Elke are holders of common stock in Fragrances, Inc. (FI). Like other holders of common stock, th have a residual position in the overall financial structure of FL, because they a. are the last to receive payment for their investment b. reside in the state of FI's incorporation c. have priority to FI's assets if FI becomes insolvent. d. are guaranteed to receive more than the amount of their investment. Ida, Jerzy, and Kit are the directors of Liberty Convenience Stores, Inc. Liberty has nine officers forty-six shareholders. Dividends are ordered by the firm's a. shareholders. b. board of directors. 53. c. incorporators. d. officers.Explanation / Answer
47.
Board of directors are the representative of the persons who are the shareholders in a company. Shareholders hold a meeting and together they decide their representatives who acts as a board of directors and attend every board meeting and sees to it whether the decision made by the company’s officials are in the favour of the shareholders.
Thus it is the shareholders who takes a decision regarding the formation of new board of directors.
Hence, the correct answer is option B.
48.
A license is the right given by a person to another for using its property.
Thus, the right of Utility Power company to use the land of Velma can be termed a s a license.
Hence, the correct answer is option c.
49.
Shareholders have no interest in the policy of company. They are only interested in the wealth maximization.
Board of directors sees to it whether the company’s decisions are in favour of shareholders. Thus, they also do not have any interest in policy making.
Incorporators are the founder of any company they do not formulate policy. However, they are responsible for finalising the policies.
Policies are made by the people who govern the company directly i.e. who are responsible for company’s day-to-day work.
Thus, the correct answer is option a. i.e. officers.
50.
Bonds are the securities issued by company as a security to the debtors.
Thus, the correct answer is option b. (debt securities).
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