With respect to the board of directors of a corporation, which of the following is NOT correct?
a. They manage the business and affairs of the corporation.
b. They are the shareholders' elected representatives.
c. They must always obtain shareholder approval before deciding questions of operating policy.
d. They have the authority to delegate power to officers and agents.
c
You might also like to view...
An accounting _____ arises when a firm incurs an obligation to make a future sacrifice that, because of a past event or transaction, it has little or no discretion to avoid
a. asset b. liability c. shareholders' equity d. revenue e. expense
A company issues 9%, 5-year bonds with a par value of $100,000 on January 1 at a price of $106,160, when the market rate of interest was 8%. The bonds pay interest semiannually. The amount of each semiannual interest payment is:
A. $9,000. B. $8,000. C. $0. D. $4,000. E. $4,500.
For goods to be selected from like items in inventory, identification cannot occur until the
specific goods for the specific customer are separated or tagged for that customer. Indicate whether the statement is true or false
Personal Wellness ? Jackie has been working for a local small business called Personal Wellness for the last three years. It is a retail business that sells sporting goods equipment. When she started to work there, she noticed several things that were possibly the cause of the business not doing as well as it hoped. Jackie has been thinking of starting her own small business because she feels she has learned much through working for Personal Wellness. ? Jackie's manager asked her to create a business plan for Personal Wellness. The manager hoped that this plan would put things into perspective to help the company do better. After creating the plan, Jackie suggested that Personal Wellness contact a group of senior and graduate students to provide management counseling for the company.
Jackie wants to make sure that her leaving does not become the cause of the company going under. Refer to Personal Wellness. When Jackie suggested that the company contact a group, what type of group was she referring to? A. Strategic institute B. Small-business institute C. HR institute D. Management institute E. Business institute