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Tom [10]
3 years ago
6

In a wholly owned or closely held corporation, there really is little distinction between the functions of a board of directors

and those of a board of advisers. True False
Business
1 answer:
umka21 [38]3 years ago
8 0

It is true that there is little distinction between the functions of a board of directors and those of a board of advisers in a wholly owned or closely held corporation.

<h3>What is a board of directors and board of advisors? </h3>

A board of directors refers to the elected group of individuals that represent shareholders while the board of advisors refers to the group of individuals who are appointed to provide counsel businesses.

In conclusion, it is true that there is little distinction between the functions of a board of directors and those of a board of advisers in a wholly owned or closely held corporation.

Read more about board

<em>brainly.com/question/4771644</em>

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Approximately what percent of regular army soldiers (excluding army reserves and national guard) currently serve in infantry uni
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3 years ago
The IRS agent who audited the Form 1120 filed by Alano Inc. concluded that $300,000 of the salary that Alano paid to its CEO and
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Explanation:

Constructive dividends are paid to a shareholder and classified in such a way that they are not to be seen as taxable dividends.

If during auditing however, the IRS determines that it was indeed a taxable dividend, it becomes a constructive dividend.

Constructive dividends are taxable by definition so Alano's taxable income increases by the amount of dividend of $300,000.

7 0
3 years ago
Bank ABC has checkable deposits of $415 million and total reserves of $50 million. The required reserve ratio is 9 percent. The
umka21 [38]

Answer:

$12,650,000.

Explanation:

Reserves is the total amount of a bank's deposit that is not given out as loans

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