Asked by Nishallinee Shanmugam on Jul 20, 2024
Verified
Which of the following items is found in the Model Business Corporation Act issued by the American Bar Association?
A) Information about salaries of employees in a corporation
B) Guidelines for hiring new employees in a corporation
C) Information about the personal assets of a corporation's stockholders
D) Provisions for promoting an employee within a corporation
E) Provisions for the regulation of internal corporate affairs
Internal Corporate Affairs
Internal Corporate Affairs refer to actions, policies, and decisions related to the internal management and operation of a company, excluding its external business activities.
- Identify the critical role and substance of essential legal papers in the creation of diverse business structures.
Verified Answer
CT
Caleb TumblesonJul 22, 2024
Final Answer :
E
Explanation :
The Model Business Corporation Act (MBCA) provides provisions for the regulation of internal corporate affairs, including corporate governance, duties of directors, and shareholder rights, rather than details about salaries, hiring, personal assets of stockholders, or promotion guidelines.
Learning Objectives
- Identify the critical role and substance of essential legal papers in the creation of diverse business structures.
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