Every shareholder must be present at the annual meeting of shareholders and cannot appoint a proxy to vote their shares Select one True False Dividends may be paid any time the directors wish, even if that causes the corporation to become insolvent Select one: True O False All corporations are required to issue bonds to raise capital Select one True False Restrictions on the transfer of shares, often found in shareholder agreements are common in dosely held corporations Select one: True on False An officer or director can compete with a corporation as long as he discloses his personal interest and does not vote in favor of the transaction Select one True stion False Director and shareholder meetings must be formal, require a quorum, and include agenda and minutes Select one True False The amount of stock a person owns determines the strength of his or her voting power Select one True O False Preemptive Rights allows shareholders to maintain their proportionate control over the corporation by allowing each to purchase new issues of reserve stock in the same proportion they currently own Select one True O False tion 9 Like partnerships and imited ility companies, corporations may elect to have blows but they are not required. Select one: True O False 20 Cumulative voting allows minority shareholders to add up all their votes during an election of multiple directors and apply all their votes to a single candidate - Select one True