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True or False Quiz
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1
Hans immigrated to the U.S. from Germany and is not eligible to serve on the board of directors of a U.S. corporation.
A)True
B)False
2
A supermajority quorum of the board of directors may be required to sell forty percent of the assets of the corporation.
A)True
B)False
3
If Emily owns fifty-five percent of the voting stock of Trend Co., then Trend is a controlled company.
A)True
B)False
4
Today, there is a delegate balance between the theories of managerial control and shareholder democracy.
A)True
B)False
5
The trustee of a voting trust must be an outsider.
A)True
B)False
6
A shareholder proposal may be up to 100 words long under SEC rules.
A)True
B)False
7
Shareholders who bring a successful derivative suit are entitled to recover attorney fees.
A)True
B)False
8
Valencia is a manager of Titanic Corp. and the fairness rule only requires at a minimum that her actions be fair to the corporation.
A)True
B)False
9
The United States Sentencing Commission rules require that corporations do their best to discover and stop illegal activities.
A)True
B)False
10
Only in manager-managed LLCs do those who run an LLC have a fiduciary duty to the LLC and to its members.
A)True
B)False





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