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What is the primary responsibility of the board of directors?
What is the primary responsibility of the board of directors?
- Setting policies on investments, capital structure and dividend policies
- Determining top management's compensation
- Approving company's strategies, goals and budgets (correct)
- Appointing and removing members of the top management including the president
Who elects the Board of Directors?
Who elects the Board of Directors?
- The shareholders (correct)
- The top management
- The president
- The stockholders
What is the role of the shareholders?
What is the role of the shareholders?
- To set policies on investments, capital structure and dividend policies
- To appoint and remove members of the top management
- To carry out the objectives of the shareholders (correct)
- To approve company's strategies, goals and budgets
Who is responsible for approving the information and other disclosures reported in the financial statements?
Who is responsible for approving the information and other disclosures reported in the financial statements?
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What is the highest policy making body in a corporation?
What is the highest policy making body in a corporation?
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