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At their annual meeting, shareholders of the Bones Corp. approved several proposals made by the board of directors. Among them was the ratification of the salaries of the executives of the corporation. In this connection, which of the following is correct? A. The salaries ratified are automatically valid for federal income tax purposes. B. The action by the shareholders serves the purpose of confirming the board's action. C. Such ratification by the shareholders is required as a matter of law. D. The shareholders cannot legally ratify the compensation paid to director-officers.
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