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Question 1

Who orchestrates and originates the accounting rules for any company required to report financials in the U.S. and what are those rules called?

Question 2

Which of the following represents a likely group of individuals to sit on the board of a company that produces basketball shoes, has had severe economic distress for the past eight financial quarters, and is backed by several prominent venture capitalists?

Question 3

InsideOut Co. has a seven member board of directors. They are trying to boost the value of their stock and are trying to better organize their internal operations as one means of achieving those ends. As concerns the board, what might the company do to satisfy the market?

Question 4

Troubled, Inc. has been sued by several parties regarding its accounting practices. The board decides that to help respond to the suit, it will create a subcommittee made up of several of the firm's lawyers who are also board members, and give the group full power to decide on the course of the litigation and recommend actions to shareholders to help stop the suit. The board's actions are:

Question 5

Profitable, Inc. has been doing great business for the last five years. Each year, the company has made huge amounts of money in various parts of its business line. However, shareholders have been getting upset because the firm has failed to pay any dividends during those five years. A group of shareholders believes that the board is about to engage in a major transaction with all the spare cash that will have the effect of devastating the firm. As such, they petition a court in the company's state of incorporation to compel the board to pay a dividend before the company squanders the money. Such an action is likely to result in:

Question 6

The absolute minimum that a state will allow for a board vote to have effect on the company is: