Question 3 XYZ Ltd is a public insurance company with Reggie Not yet as the CEO and Chairman, Richie as a Director and answered Chief Financial Officer and Cecil as a new Director Marked out of following a merger with another insurance company, 20.00 Besides these Directors, there are 3 other executive P Flag directors and 2 non executive directors. question The Board meets every month and the Directors are each paid $10,000 for their involvement with the company, At the last board meeting, the Directors were presented with a report as to the finances and English Skills operations of the company that was in excess of 1,000 pages. It was a very detailed report having a number of items that had been prepared by l pran accountants and staff members. 0321 The Board was asked to vote on whether the report should be adopted and to also vote on whether the 0321 company was solvent and able to pay its debts. They each spent about 20 minutes looking at the report, then all the Directors unanimously agreed to these 2 resolutions and the meeting came to a close. If the Directors had looked at the report more