Corporation must obtain shareholder approval

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Reference no: EM132159207

1. Brock and Heidi agree to jointly run a fundraiser for the nonprofit children’s hospital. Even if they don’t have a formal, written agreement, they have formed a partnership.

True

False

2. A corporation must obtain shareholder approval before the company:

a. sells off a major portion of its business to another company.

b. amends its bylaws.

c. amends its articles.

d. All the above are correct.

3. How does the Americans With Disabilities Act define disability?

a. Traits such as bisexuality or being trans-sexual

b. A record of having an impairment or disease, such as an addiction to drugs and alcohol

c. A physical or mental impairment that substantially limits one or more of a person's major life activities

d. A person with AIDS or AIDS-related conditions

4. Unlke a consolidation, when a merger occurs the two or more formerly separate corporations become part of a new corporation.

True

False

5. The proceeds, if any, of a derivative lawsuit go to:

a. the corporation.

b. the shareholders of the corporation.

c. the shareholders who actually filed the lawsuit.

d. the board of directors

Reference no: EM132159207

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