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Orsa Is a Shareholder in Pickles & Preserves Corporation

Question 22

Multiple Choice

Orsa is a shareholder in Pickles & Preserves Corporation. In some states, Orsa may be liable to the firm's creditors for unpaid corporate debts if she


A) accepts a dividend knowing that it was paid from retained earn?ings.
B) receives shares issued by the firm for less than fair-market value.
C) fails to fulfill her fiduciary duty to the majority shareholders.
D) sells her shares.

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