1. Which of the following are requirements for a qualified stock bonus plan?

1. Participants must have pass through voting rights for stock held by the plan.

2. Participants must have the right to demand employer securities at a distribution, even if the plan sponsor is a closely held corporation.

1 only Both

1 and 2 Neither 1 nor 2

2 only

2. In a top-down budget , each manager creates a departmental budget . The budgets for all departments are then combined to create the top level budget.

True or False