True/False

Indicate whether the statement is true or false.

_____ 14. The Revised Act takes the position that consolidations are, for all practical purposes, obsolete.

_____ 15. Incorporation statutes usually provide for both voluntary and involuntary dissolution of a corporation.

Multiple Choice Identify the choice that best completes the statement or answers the question.

_____ 16. Traditionally, statutes generally required at a minimum that the officers consist of:

a. one or more vice presidents.

b. a president and a secretary.

c. a treasurer,

d. All of the above.

_____ 18. Which of the following would be likely to result in liability to a director of a textile company?

a. The director sells stock in the textile company before a merger is announced.

b. The director uses the corporation's offices to buy and sell his own investment securities.

c. The director owns stock in an automobile company.

d. The director agrees to hire as president a man he has not personally investigated.

e. Both (a) and (b).