Fact Pattern 21-1 Tonya Is the President of Growth Corporation.Growth Is Looking for Is

Multiple Choice

Fact pattern 21-1
Tonya is the president of Growth Corporation.Growth is looking for land on which to build a new facility.Tonya locates suitable land,but purchases it for herself with plans to sell it at a profit at a later date.Rick,the majority shareholder of Growth hears about Tonya's purchase and complains to her about it.She tells Rick that she viewed and purchased the land on her own time and that she did not breach any duties owed to the corporation.Rick tells her that she should reconsider and that he plans to discuss the matter with the rest of the board.
-Refer to fact pattern 21-1.Which of the following is a right of the corporation if it is determined that an officer wrongfully takes an opportunity belonging to the corporation?

A) An absolute trust
B) A constructive trust
C) A 10% penalty based upon the value of the lost opportunity which is imposed by federal law
D) As imposed by most states,a 10% penalty based upon the value of the lost opportunity