Mayflower Trucking Inc. incorporates and issues 1000 shares of common stock. Shawn owns 600 shares of Mayflower stock. If Mayflower is electing three directors and Shawn is the only shareholder to show up at the meeting: there is a quorum. X there is not a quorum. a plurality. there is a proxy.
Q: Stockholders' Equity (January 1) Common stock-$5 par value, 100,000 shares authorized, 40,000 shares…
A: 1. January 5: Declared a $0.40 per share cash dividend, date of record January 10.Explanation: When…
Q: Which is not true of a corporation’s board of directors a. They are elected by the shareholders b.…
A: A board of directors is designated individuals that signify shareholders. A corporation is succeeded…
Q: In the election or removal of directors of the corporation, an individual shareholder typically has…
A: A shareholder is an individual, group, or institution that owns a portion of a corporation's stock…
Q: Partnerships and most LLCs are known as pass-through entities. What does this mean for their…
A: Limited liability companies (LLCs) are going through substances naturally. Except if the proprietors…
Q: Omega, Inc., a publicly held corporation, has assets of $100 million and annual earnings in the…
A: In the above case study of Omega Inc., there are two alternatives available to them. There are three…
Q: Goldie and Hattie want to develop real estate and want to organize it under their states Revised…
A: Goldie and Hattie both wants to convert a ongoing partnership company to a limited partnership…
Q: dd more details to the paragraph below Directors are obligated to act in the best interests of…
A: A company's director is a person delegated or chosen to oversee the administration and strategic…
Q: What are the two main functions that independent directors play in the boards of public companies,…
A: Directors play an important role in the development and growth of an organization. Independent…
Q: n which firm the agreement is Oral or Written? A. Partnership B. Sole Proprietorship C. HUF D.…
A: Agreement is one of the important components of a contract. The proposal becomes a contract when…
Q: Carefully study the board of directors of the firm. what is the effectiveness of the board. Explain…
A: "The solution has been provided in a generalized manner."A board of directors constitutes a…
Q: 41. Silicon Corporation, which controls 40 percent of the com-puter-chip mar-ket in the United…
A: A merger can be defined as a business combination that involves two companies, typically where one…
Q: When necessary, Shareholders have residual decision-making powers to assist in situations where the…
A: Shareholders refer to the owners of the company that show the business benefits by representing a…
Q: Explain in details why Directors have a duty of loyalty to the company and must avoid conflicts of…
A: A system of rules, practises, and processes that governs how an organisation is directed,…
Q: Mr Stir tells Mrs Sasu that the other members of SAG intend to appoint him as their proxy at the…
A: According to the Companies Act, a Proxy is an individual who is appointed by the member of the…
Q: 1. Which of the following is an advantage of partnerships? a. Each partner has limited…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: The terms stakeholder and shareholder are synonymous. Meaning that all stakeholders are shareholders…
A: A stakeholder in an organization is anyone who has an interest in its activities. This can include…
Q: What governance are in place to ensure the interests of the principals and the agents stay aligned?…
A: Corporate board directors encounter the repeated challenge of bringing into line the interests of…
Q: While attending a recent dinner party, Sally and Lily were talking to a friend who was surprised…
A: Sally and Lily, operating a Healthy Snacks business, received a suggestion at a recent dinner party…
Q: “Antitrust in the digital economy”:
A: Regulatory law is the thorough and systematic designer of society's order. It is specific…
Q: Which of the following three statements are true about Limited Liability Companies (LLCs)? Group of…
A: The limited liability companies is a business structure prevalent in US that combines both…
Q: Which of the following persons or groups could be considered a Stakeholder? A. Employees…
A: In business, a stakeholder is any individual, group, or organization that can affect, be affected…
Q: Mario and Johnny want to start a business. They have very little capital. They are new partners and…
A: B. Avoiding full liability D. Sharing profits
Q: What is the effect of a merger agreement consummated in violation of the requirements on mandatory…
A: Mergers and acquisitions have become commonplace in the business world, helping organisations to…
Q: Which of the following legal forms of business, (sole proprietorship, partnership, corporation),…
A: Note -Hi! Thank you for the question, As per the honour code, we are allowed to answer three…
Q: The components are acquired from ErinElectronics Pty Ltd, a company that Martina has a significant…
A: The current situation is based on business law - and the IRAC model - here I stand for issue , R…
Q: Read the following extract and then answer the question below A client is interested in setting up a…
A: Choosing the right legal structure for your business is an important decision that can have…
Q: Which is the best anti-hostile takeover strategy that can be made by an entity when there is a high…
A: An anti-takeover measure is any move that is initiated on a ceaseless or irregular premise by a…
![Mayflower Trucking Inc. incorporates and issues 1000 shares of common stock. Shawn owns
600 shares of Mayflower stock. If Mayflower is electing three directors and Shawn is the only
shareholder to show up at the meeting:
X
there is a quorum.
there is not a quorum.
a plurality.
there is a proxy.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3aff2365-9f44-4770-b8e3-e2ed0988bbf7%2F42691af0-3d5a-4ac4-bbd9-a49eba493e66%2Frcpmer_processed.png&w=3840&q=75)
![](/static/compass_v2/shared-icons/check-mark.png)
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
- 1-All businesses must start out as sole proprietorships before they can be partnerships. True or False 2-The right of survivorship attaches to joint tenants. True or False 3-Degree of control that one person exercises over the other is sufficient to determine whether there is an employment relationship. True or FalseEntity FormationCarla plans to open Carla’s Pets Store, a pet sales and pet supplies outlet, and to hire Quimby and Ruth. Carla will invest only her own money. She does not expect to make any profit for at least two years and to make almost no profit for the first three years, but she hopes to expand eventually. · Which form of business organization would be most appropriate? · What are the main characteristics, advantages, and disadvantages of this form of business organization? · If Carla wants to obtain additional capital to expand the business, but does not want to lose control of the company, what is her best option?What is one of the primary roles that agency law plays in partnerships? Group of answer choices: A. Controls formation of the entity. B. Dictate how the partners can operate the business. C. Whether or not a partner can bind the partnership to obligations or liabilities. D. Dictates what the operating agreement must state..
- Presented below are different cases relating to various investors. Discuss and justify whether each investor has the power to direct the relevant activities of its respective investee. You may assume. unless otherwise stated. that the voting rights in each investee are used by the investors to elect members onto the investee's board of directors or to direct the relevant activities of the investee. a) Petro acquired 240 (80%) of the ordinary shares of Salt and 160 (40%) of its N class shares. Each ordinary share carries 1/2 voting tight and each N share carries 1 voting right. b) Petunia acquired 40% of the ordinary shares of Sam. Each ordinary share carries 1 voting The remainder of the voting rights in Sam are held by two individuals that are independent of Petunia. c) Polly acquired 20% of the ordinary shares of Sun. A further 60% of the ordinary shares of Sun are owned by Interim (Polly holds 70% of the shares in Intern*. d) Press acquired 20% of the voting rights in Slim. Press is…"The Board has adopted Corporate Governance Policies to ensure that the Board has the necessary authority and processes in place to review and evaluate our business operations as needed and to make decisions that are independent of our management. These policies include practices the Board follows with respect to its composition and selection, regular evaluations of the Board and its committees, Board meetings and involvement of senior management, senior management performance evaluation, and Board committees and compensation" Is a member of senior management present at all full Board and Board Committee meetings? Group of answer choices a) Yes b) It depends c) NoWho has the right to elect the Board of Directors? a. The common shareholders b. The preferred shareholders c. The officers of the corporation d. All shareholders
- Rich contracted to hold the annual retreat of his company in Tampa, Florida. Which of the following is an example of a force majeure event? C C C a. The weekend of the conference, Rich became very ill and had to be hospitalized. b. The weekend of the conference, Rich's entire management team quit. The weekend of the conference, there was a major tropical storm. d. The weekend of the conference, Rich discovered a cheaper rate at a nearby hotel. C.Which is true about a limited partnership (LP)? a. General partners are exposed to liability for all of the businesses’ debts, and limited partners are only exposed to the extent of their investment b. Limited partners are exposed to liability for all of the businesses’ debts, and general partners are only liable to the extent of their investment c. All partners, both general and limited, are exposed to liability for all of the businesses’ debts d. All partners are exposed to liability only to the extent of their investmentJames and John are directors of ‘Cakes & Frozen Novelties Company Limited.’ Peter, Paul andDavid are shareholders. The company has been in operation for four years. The company has notmade any profits since its inception but James and John decided to declare dividends from thecompany’s capital reserves. The company has 10 million shares that were not distributed. Jameswent ahead and sold the shares to his wife, who is not currently a member of the company.Peter enquired as to whether or not the company can just purchase the shares issued, as there aremany different types of shares available. Paul noted that this is possible but pointed out thatRedeemable shares have particular features and certain procedures must be followed in order toredeem. He also stated three ways in which the company must finance these redeemable shares.James asked about the effect of the redeemable shares. John was puzzled and asked how acompany can redeem its share capital, especially when there is a…
- 1. Goldie and Hattie want to develop real estate and want to organize it under their state's Revised Uniform Limited Partnership Act. (a) Please advise Goldie and Hattie about what they will need to create and capitalize their partnership. (b) What advantages does the limited partnership business form offer to them over the general partnership? (c) What should Goldie and Hattie expect about their personal liability and tax situation?Where a resolution was passed at a meeting which lacked the required quorum.Select one:a. Members have 24 hours to demand that company directors call an extraordinary general meetingb. The resolution is automatically invalidc. Members holding at least 10% of the shares in the company can vote to reverse the resolutiond. The resolution is automatically valid, unless overturned by court orderFelicia is starting an e-commerce business. She is deciding which entity to use for the business. All of the following are true related to entity characteristics, except: O You don't necessarily have to create an entity to operate a business. O Cash taken out of partnerships/S-Corps by owners is generally not taxable. O Partnerships and S Corporations, generally, do not pay entity level income taxes OC Corporations pay an entity level tax and any dividends to shareholders are not taxable.