Question

The trustees of an ESOP must act in the best interest of the plan participants.

a. true
b. false

Answer 1

Proprietors in a proprietary colony have extensive responsibilities beyond collecting profits.

Step-by-step explanation:

In a proprietary colony, the Proprietors have no responsibilities except to collect the profits.

False. This statement is incorrect. In a proprietary colony, the Proprietors actually have extensive responsibilities beyond just collecting profits. They are responsible for governing the colony, making decisions about laws and regulations, and ensuring the well-being of the colony as a whole. They may appoint officials, create courts, and oversee the development of the colony.