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Q: There are no accountants on the board of the Oriole Corporation, a privately held corporation. The board routinely relies on a Certified Public Accountant (CPA) to explain the financial situation of
the corporation. The board does not do an independent analysis of the CPA’s report. In these circumstances, the board is A. violating a duty of loyalty B. violating a duty to exercise due care C. violating the business judgment rule D. not violating any duty
A: C. violating the business judgment rule
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User: There are no accountants on the board of the Oriole Corporation, a privately held corporation. The board routinely relies on a Certified Public Accountant (CPA) to explain the financial situation of the corporation. The board does not do an independent analysis of the CPA’s report. In these circumstances, the board is A. violating a duty of loyalty B. violating a duty to exercise due care C. violating the business judgment rule D. not violating any duty

Weegy: C. violating the business judgment rule
rhey22787|Points 575|

User: Self-dealing by a director of a corporation can best be described as A. A breach of a director's duty of notification B. A breach of a director’s duty of care C. A breach of the Business Judgment Rule D. There was no breach of duty

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Asked 8/21/2012 6:37:26 PM
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