9. Paula and Nancy form Delite Day Care, Inc.Ultimate responsibility for policy decisions necessary to guide corporate operations will reside with Delite's

a.board of directors.

b.senior management.

c.officers and senior executives.

d.shareholder owners.

10.Which factor would probably not cause a court to 'pierce the corporate veil' and impose personal liability on the shareholder owners

a.Statutory corporate formalities not followed to maintain 'separateness'.

b.The entity files for Chapter 11 bankruptcy protection after a series of disastrous business decisions.

c.Personal and entity financial accounts are mixed or commingled.

d.Shareholder owner assists entity's criminal evasion of a safety regulation.

11.Officers and directors are considered fiduciaries of the corporation.Which is one of their fiduciary duties

a.Duty of care.

b.Duty of loyalty.

c.Duty to make informed decisions.

d.All of the above.