no explanation need

Question 61 In a Subchapter S corporation, a person cannot serve as both a shareholder and an officer of the corporation. O True O FalseQuestion 62 Dissolution of a corporation that has begun business or issued shares upon recommendation of the board of directors and a majority vote of the shares entitled to vote is known as O liquidation O voluntary dissolution O judicial dissolution O administrative dissolutionQuestion 63 The bylaws of a corporation are adopted at the Organizational meeting of the Board of Directors 0 True False Question 64 Which of the following would not be preferences that a preferred stock could have? O A dividend preference O Cumulative dividend rights O a liquidation right to be paid before outside creditors are paid. O A Liquidation PreferenceQuestion 65 The alterego doctrine contends that the owneris] of the corporation are not treating the corporation as a separate person at law. True 0 False