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NEW QUESTION: 1
Which of the following is NOT an alternative storage method for paper records?
A. computer
B. optical imaging
C. microfilm
D. outguide
Answer: D
NEW QUESTION: 2
Which of the following parties is liable to repay an illegal distribution to a corporation?
A. A shareholder knowing of the illegality of the distribution and the corporation is insolvent.
B. A director not breaching his or her duty in approving the distribution and the corporation is solvent.
C. A director not breaching his or her duty in approving the distribution and the corporation is insolvent.
D. A shareholder not knowing of the illegality of the distribution and the corporation is solvent.
Answer: A
Explanation:
Choice "d" is correct. Illegal dividends from an insolvent company must be repaid to the corporation for
the benefit of the creditors. A shareholder who knowingly accepts an illegal dividend is liable to return it.
Choices "a" and "b" are incorrect. If a director does not breach any duties in approving a distribution, the
director is protected by the business judgment rule and is not liable for the distribution whether the
corporation is solvent or insolvent. Choice "c" is incorrect. A shareholder of a solvent corporation who
unknowingly accepts an illegal distribution is not obligated to repay the distribution.
NEW QUESTION: 3
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A. Mann in der Mitte
B. Ransomware
C. Schulter surfen
D. Social Engineering
Answer: D
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