You own 20% of the stock of a company with 10 directors on its board. How much representation can you get on the board if the company has cumulative voting? How much representation can you ensure if the company has straight voting?
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- In order to establish a C corporation, it is a requirement that investors run the company, whereas in an S corporation, this is not the case. True or False True FalseA sponsored licensee owns one-quarter of an investment property. The four owners want to sell the property, but the other three do not want the licensee to mention their licensee to buyers. In Illinois, which of the following is true? A. Because the licensee owns only a quarter, no disclosure is necessary B. If they list the property with the licensee’s sponsoring broker, no disclosure is necessary C. If they list the property with a different broker, no disclosure is necessary D. Disclosure of the license is requiredWhich of the following refers to the rate that bond investors expect to get for investing in a bond?
- A cattle producer purchased an insurance contract form the USDA Risk Management Agency. The contract pays a fixed dollar amount if and only if the rainfall in the 10 by 10 miles grid surrounding the producer’s land falls below 90 percent of the historical average rainfall. According to the lecture, this is a type of _____ insurance A cattle producer purchased an insurance contract form the USDA Risk Management Agency. The contract pays a fixed dollar amount if and only if the rainfall in the 10 by 10 miles grid surrounding the producer’s land falls below 90 percent of the historical average rainfall. According to the lecture, this is a type of _____ insurance weather pure parametric aggregate loss index parametric indexDescribed below are situations which have arisen in three unrelated external audit clients of your firm. The year-end in each case is 31 March 20X1. Jade Ltd (Jade) Jade builds and operates fibre optic networks. During the year ended 31 March 20X1, the company incorrectly capitalised costs of £3 million in respect of repairs and maintenance to its networks and included these costs in non-current assets. The directors refuse to make any adjustments in respect of this matter as such an adjustment would cause the company to breach a loan covenant. The total assets of Jade at 31 March 20X1 are £525 million and the profit before tax for the year ended 31 March 20X1 is £71.3 million. Pearl Ltd (Pearl) Pearl maintains continuous inventory records and consequently the company does not perform a physical count at the year end. On 5 May 20X1, a fire in the office at Pearl's warehouse destroyed the company's inventory records and despatch records. The physical inventory was not damaged. There…You are the director of health information services at a tertiary-care hospital. You and the director of emergency room services are jointly responsible for reporting instances of communicable disease, child abuse, and cancer to the appropriate state authority. You have just completed an audit of your institution’s reporting mechanism and discovered that the reporting requirements are not consistently met. The audit could not definitively establish whether the reporting never occurred or occurred but was not documented in the patient’s health record. Discuss what legal issues are present and what approaches you should take to resolve this problem.