What is corporate governance?
A) Voting rights and procedures for the Board of Directors.
B) Policies, procedures, and systems used to oversee the organization.
C) An indication of how the organization shows concern for society as a whole.
D) The power of stockholders of an organization.
E) The power of all stakeholders tied to an organization.
Answer: B
Explanation: Corporate governance can be used in a broad sense to describe all the policies, procedures, relationships, and systems in place to oversee the successful and legal operation of the enterprise. However, media coverage and public discussion tend to define governance in a more narrow sense, as the responsibilities and performance of the board of directors specifically.
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