A sale of all or substantially all of the corporation's properties and assets, including its goodwill, must be authorized by the vote of stockholders representing a majority of the outstanding capital stock, or a majority of the members, in a meeting duly called for the purpose.Group of answer choicesTrueFalse

A majority of the board of directors or trustees, and the owners of at least a majority of the outstanding capital stock, or at least a majority of the members of a nonstock corporation, at a regular or special meeting duly called for the purpose, may amend or repeal the bylaws or adopt new by laws. Group of answer choicesTrueFalse

Stockholders’ or members’ meeting shall be held in the principal office of the corporation, or if not practicable, in the city or municipality where the principal office of the corporation is located.Group of answer choicesTrueFalse

A stockholder's ownership of a company's stock gives her the right toA) vote and be the primary claimant of all cash flows.B) vote and be the residual claimant of all cash flows.C) manage and assume responsibility for all liabilities.D) vote and assume responsibility for all liabilities.

People become owners of a corporation by purchasing: A. shares of stock. B. corporate bonds. C. retained earnings. D. inventory. E. accounts receivable

Any director or trustee of a corporation may be removed from office by a vote of the stockholders holding or representing at least two-thirds (2/3) of the outstanding capital stock, or in a non-stock corporation, by a vote of at least two-thirds (2/3) of the member entitled to vote.Group of answer choicesTrueFalse