17. Debentures are best described as i. a class of preference shares. ii. a document evidencing a secured loan on the company's assets. iii. unsecured credit to a company. iv. flating charges over the company's assets. a) i only b) ii only c) in and iv only d) i, ii and iv only 18. Directors stand in a fiduciary relationship with the coenpany; they must NOT make secret profits. Which of the following cases supports this principle? a) Foss v Harbotle b) Regal (Hastings) Lud. V Gulivar c) Re City Fquitable Fire Insurance l.ad. d) Peso Silver Mines L.4. v Cropper 19. Which of the following is NOT true in respect of the nature of directar's duties? a) Directors are not bound to give continsoos attention to Company affairs. b) The duties of non-executive directors are intermintent in nature and can be adequately performed by attendance at board meetings. c) Directors are not liable for mere emors in judgment. d) A dircetor must possess and demonstrate expert knowledge in respect of the bosiness of the company. 20. Which of the following is TRUE about the commencenent of voluntary winding up procecdings under the Comparies Act? i. A company may resolve by ordinary resolution that the company be wound up voluntarily. ii. A company may pass an extraordinary resolution that it cannot pay its debts and should be wound up. iii. Where the period fixed for the duration of the compuny by the articles expire the company may pass an ordinary resolution in general meeting requiring the company to be wound tep voluntarily. a) ii only b) i only c) ini only