Question: Statement 1. All illegal acts are ultra-vires acts Statement 2. All ultra-vires acts are illegal acts Statement 3. An intra vires act is valid Statement

Statement 1. All illegal acts are ultra-vires acts Statement 2. All ultra-vires acts are illegal acts Statement 3. An intra vires act is valid Statement 4. Intra vires acts are acts which a corporation is empowered to do or perform Select one: a. There are three correct statement b. All statements are correct c. There is only one correct statement d. There are two correct statements

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Law Questions!

Q:

The Foxridge Investment Group buys and sells rental income properties in southwest Virginia. Bill Hunter, president of Foxridge, has asked for your assistance in analyzing a small apartment building...

Q:

Which of the following statements is/are correct? I. All illegal acts are ultra-vires acts Statement II. All ultra-vires acts are illegal acts Statement III. An ultra vires act is voidable Statement...

Q:

Which of the following statements is/are correct? I. All illegal acts are ultra-vires acts Statement II. All ultra-vires acts are illegal acts Statement III. An ultra vires act is voidable Statement...

Q:

Which of the following statements is/are correct? I. All illegal acts are ultra-vires acts Statement II. All ultra-vires acts are illegal acts Statement III. An ultra vires act is voidable Statement...

Q:

Overview In the Week One Assignment, you formulated a concrete ethical question, took a position on that topic, and identified a reason supporting and a reason opposing that position. In the Week...

Q:

Overview In the Week One Assignment, you formulated a concrete ethical question, took a position on that topic, and identified a reason supporting and a reason opposing that position. In the Week...

Q:

1 Marks: 1 Auditors should design the written audit plan so that Choose one answer. a. Substantive tests prior to the balance sheet date will be minimized.The audit procedures selected will achieve...

Q:

Chapter Four MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Expressing an opinion on whether the financial reports are prepared in...

Q:

***This is all the info given for the questions, please answer as best as can be answered*** ***This is all the info given for the questions, please answer as best as can be answered*** Paragraph...

Q:

1.25 Points On September 3, 20X1. Larkin, CPA, was engaged to audit the financial statements of Precious Metals Co. (PM), for the year ended October 31, 20X1. PM purchases precious metals at...

Q:

Books: Law on Sales by De Leon, Notes in Business Law by De Leon 1. 1 st Statement - If an agent contracts in the name of his principal, exceeding the scope of his authority, the contract is...

Q:

Identify suppliers of marketing dashboard software on the Web. Does this type of decision support system replace management judgment on the most appropriate performance criteria for their businesses?

Q:

Neptune Research & Development, Inc. (the buyer), which manufactured solar-operated valves used in scientific instruments, saw advertised in a trade journal a hole-drilling machine with a very high...

Q:

Which of the following factors is most likely established based on the results of prior audit examinations? Multiple Choice expected misstatement population size risk of incorrect acceptance...

Q:

A company issues 1,050 shares of its common stock for $33,600 cash. Prepare journal entries to record this event under each of the following separate situations.