Podcast
Questions and Answers
What is the primary function of a board of directors in a corporation?
What is the primary function of a board of directors in a corporation?
- To implement the chosen strategy and direct the work of the corporation
- To elect corporate officers
- To set corporate management and oversight policies (correct)
- To manage the day-to-day operations of the corporation
Who is responsible for electing the members of a board of directors?
Who is responsible for electing the members of a board of directors?
- Corporate officers
- Outside directors
- Inside directors
- Shareholders (correct)
What is the difference between inside directors and outside directors?
What is the difference between inside directors and outside directors?
- Inside directors are top managers from within the corporation, while outside directors are experienced managers from outside the corporation (correct)
- Inside directors are elected by the board, while outside directors are elected by corporate officers
- Inside directors are responsible for setting corporate goals, while outside directors are responsible for implementing the chosen strategy
- Inside directors are elected by shareholders, while outside directors are appointed by the board
What is the role of corporate officers in a corporation?
What is the role of corporate officers in a corporation?
Why is it necessary for every public company to have a board of directors?
Why is it necessary for every public company to have a board of directors?
What is the primary responsibility of the board of directors in terms of corporate goals?
What is the primary responsibility of the board of directors in terms of corporate goals?
What is the primary characteristic of a sole proprietorship?
What is the primary characteristic of a sole proprietorship?
What is the main advantage of a sole proprietorship over other forms of business ownership?
What is the main advantage of a sole proprietorship over other forms of business ownership?
What is the purpose of a partnership agreement?
What is the purpose of a partnership agreement?
What type of partner contributes capital to a business but has no management responsibility or liability for losses beyond the amount invested?
What type of partner contributes capital to a business but has no management responsibility or liability for losses beyond the amount invested?
What is a unique feature of S-corporations?
What is a unique feature of S-corporations?
What is the primary purpose of a cooperative?
What is the primary purpose of a cooperative?
What is the primary difference between a master limited partnership and a corporation?
What is the primary difference between a master limited partnership and a corporation?
What is a key difference between growth from within and growth through mergers?
What is a key difference between growth from within and growth through mergers?
What is the purpose of an articles of partnership agreement?
What is the purpose of an articles of partnership agreement?
How are the profits and losses of a partnership typically divided?
How are the profits and losses of a partnership typically divided?
What is the benefit of having a written articles of partnership agreement?
What is the benefit of having a written articles of partnership agreement?
What is the primary characteristic of a general partner in a partnership?
What is the primary characteristic of a general partner in a partnership?
What is a characteristic of a horizontal merger?
What is a characteristic of a horizontal merger?
What is the main purpose of federal agencies reviewing mergers?
What is the main purpose of federal agencies reviewing mergers?
What is a characteristic of a vertical merger?
What is a characteristic of a vertical merger?
According to takeover advocates, what is a result of takeovers?
According to takeover advocates, what is a result of takeovers?
What is a criticism of takeovers according to takeover opponents?
What is a criticism of takeovers according to takeover opponents?
Why do financially secure firms engage in mergers and acquisitions during an economic crisis?
Why do financially secure firms engage in mergers and acquisitions during an economic crisis?
What is the primary purpose of a franchise agreement?
What is the primary purpose of a franchise agreement?
What is the term for a franchise that operates within another store's facilities?
What is the term for a franchise that operates within another store's facilities?
What is the role of a franchisor in a franchise agreement?
What is the role of a franchisor in a franchise agreement?
What is the term for the person who buys the right to sell goods or services of a parent company?
What is the term for the person who buys the right to sell goods or services of a parent company?
What is the main goal of franchising?
What is the main goal of franchising?
What is the nature of a franchise agreement?
What is the nature of a franchise agreement?
