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In August 2019, the Business Roundtable made a significant shift in its statement of corporate purpose. What was the primary change reflected in this updated statement?

Instructions:Students have a maximum of three (3) hours to complete the test.There are 50 short answer questions and 1 short essay questions. The short answer section is worth 80 percent of the exam (1.6 points each) and the essay is worth 20 percent.When you have completed your exam, please turn in the exam jacket and inside of it these exam questions, the scantron and scrap paper. Points from your exam may be deducted if you do not turn in all of these materials.If you have any questions, please raise your hand. Please do not get up to ask the question.This exam covers all pages assigned in your textbook and the corresponding classes.

Peter is the sole director of Gold Corp., a publicly traded Delaware corporation. Gold Corp. acquires 60% of the shares of Silver Corp., another publicly traded Delaware corporation in a cash-for-shares deal. This turns out to be a poor acquisition, as the value of the shares of Silver Corp. declines rapidly within the next few months.Peter now considers two possible choices. First, Gold Corp. can sell the Silver Corp. shares, thereby realizing a loss which the corporation can deduct from its income and thereby lower its corporate income tax liability. For financial accounting purposes, this solution would make the corporation’s net income for the year substantially lower because the net income would reflect the loss. Alternatively, Peter considers distributing the shares of Silver Corp. as a dividend to Gold Corp.’s own shareholders. This solution has the drawback that neither Gold Corp. nor Gold Corp.’s shareholders realize a loss for tax purposes. On the other hand, the advantage of this solution, as Peter sees it, would be that for financial accounting purposes, the loss resulting loss would be charged against surplus. Fearing that the stock market may react much more negatively to lower net income than to a mere reduction in surplus, Peter opts for the second solution and lets Gold Corp. distribute the shares of Silver Corp. as a dividend. Which of the following statements is correct?

Miriam Corp. is a publicly traded Delaware corporation. According to its certificate of incorporation, its board has five directors. As of January 1, these five directors are Tim, Tom, Mary, Larry, and Clarinda. Tom, Mary, and Larry are Tim’s children. Tim does not have any ties to Clarinda.On February 1, Tim buys a parcel of real estate from Miriam Corp. for $1,000,000. At the time of the transaction, the market value of the property is $1,200,000.Before the relevant documents are signed, the transaction is approved by the board of Miriam Corp. At the relevant board meeting, which takes place on February 1, all directors are present, and four of them approve the transaction, with only Clarinda voting against it.On March 1, the annual shareholder meeting of Miriam Corp. takes place. Tim and Tom are reelected to the board. By contrast, Mary, Larry, and Clarinda are not reelected. In their stead, Matt, Joanne, and Justin are elected to the board. None of the three new directors has any ties to Tim, Tom, Marry, Larry, or Clarinda.Jill is a longtime shareholder of Miriam Corp. On April 1, Jill brings a derivative suit with the aim of making Tim pay damages to the corporation.Jill did not make any demand on the board of Miriam Corp. before filing her derivative suit. Jill owns 67% of the outstanding shares of Miriam Corp. Which, if any, of the following statements is correct?

Tim and Peter want to form an LLC under CSULandia law, which follows the RULLCA. Their attorney has drafted an operating agreement for the company. Now Tim and Peter want to know what has to be included in the LLC’s articles or organization. Which of the following statements, if any, is correct?

Tom, Mary and Gwen are the only three shareholders in TMG Corp. Tom has 9 shares, Mary has 5 shares and Gwen has 4 shares. There are no other shares outstanding. TMG uses cumulative voting. TMG has five director positions on its board of directors, and each director is elected each year. Assume that each shareholder allocates his, her, or their votes to elect the maximum number of directors. How many directors can Gwen be assured of electing, if neither Tom nor Mary vote for Gwen’s choices for director?

Wood is a senior vice president of Soda Sales Corp., a Delaware corporation (“SSC”). Wood is offered the opportunity to buy a new soda recipe for SSC from Ivan Inventor. Instead of buying the new recipe for SSC, Wood buys the recipe for himself. N. Gree, an SSC shareholder learns of Wood’s actions and is upset. N. Gree wants to sue and allege that Wood has taken a corporate opportunity that belongs to SSC. What type of action would be most likely to succeed?

Orange, Inc. borrows money from Paul and is unable to pay him back because Orange, Inc. has made some bad, but not negligent, business decisions and no longer has sufficient capital to pay its debts. Assuming that Orange, Inc. has followed the requisite corporate formalities, whom can Paul successfully sue?

What organs/structures make up the urinary system?

The nurse is caring for a 82-year-old female admitted to the medical unit with new onset of urinary incontinence and mild confusion. Nurses’ Notes   0930: Admitted from the emergency room with new onset of incontinence and mild confusion. Recently widowed and now living with daughter and son-in-law. Daughter reports foul-smelling, pink-tinged urine with incontinence and low-grade fever; no reports of pain or burning but noted to be restless with new onset of mild confusion. Upon admission to medical unit, alert and oriented to person only but pleasant and cooperative. Temperature 101.8 F (38.7 C), other vital signs stable. Skin dry, warm and flushed with poor turgor. Offered bedpan frequently and voiding small amounts of urine—concentrated, pinkish and foul-smelling; does not report burning or pain. Urine and blood cultures obtained; results pending.  Daughter reports Sulfa allergy. Vital Signs   Time 1000   Temp  (F/C) 101.8/F  38.7 C   P 115   RR 26   B/P 92/48 (63)   Pulse oximeter 94 (room air)   Laboratory Report   Lab Results Reference range BUN 27 10-20 mg/dL Creatinine (serum) 1.3 0.9 to 1.4 mg/dL WBC 14.1 4.5 – 10.5 x 103 cells/mm3 Potassium (serum) 3.6 3.5 to 5 mEq/L Sodium (serum) 143 135 to 145 mEq/L Urine analysis         4+ bacteriuria         WBC >10,         + hematuria Bacteriuria /HPF WBC  – Hematuria         Lactate 3.4 .6 – 2.2 mmol/L Based on the above scenario, what type of shock do you anticipate the client will be diagnosed with?