Question: TRUE OR FALSE 1. The MBCA is a reference to the federal statute on corporate law. 2. Preferred stock is entitled to be paid the

TRUE OR FALSE

1. The MBCA is a reference to the federal statute on corporate law.

2. Preferred stock is entitled to be paid the stated dividend in a year even if it is not declared by the board of directors.

3. Executive compensation of a publicly traded corporation must be approved by the shareholders in a vote that is binding on the board of directors.

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