Which one of the following statements is TRUE? a. Company sponsorship of a local charity is an example of a nonpecuniary benefit. b. Since outside directors have no other connection with the firm, they are indebted to the CEO for putting them on the board. c. An inside director is a board member who also holds a managerial position in the company. d. In a classified board, it is easier for dissidents to gain representation since fewer seats are up for election each year.

The mccolls have made an offer on a new home. the home is new construction and scheduled to be completed by the end of the year. they provide a purchase deposit--a check in the amount of $40,000--to their agent, suzette. suzette, at the broker's direction, deposits the earnest money in the broker's trust fund account within two business days of receipt of the funds. did suzette follow the proper procedures? a. no, the check should not have been cashed. if a check is used as an earnest money deposit, it is to be held until acceptance of the offer. the seller must also be informed the buyer's check is being held and not negotiated.b. yes, suzette deposited the earnest money in the broker's trust fund account as directed. she also deposited the check within three business days of receipt. unless there were written instructions to hold the check until acceptance of the offer, the check may be cashed.c. no, suzette needed to deposit the earnest money in the broker's trust fund account within two days of receipt, not necessarily two business days.d. both a and c