Directors Who Are Not as Directly Connected to the Firm

question 42

Multiple Choice

Directors who are not as directly connected to the firm but who have existing or potential business relationships with the firm are called:

• A)gray directors.
• B)independent directors.
• C)advising directors.
• D)inside directors.

Understand the role of international organizations and assistance in the economic development of countries.

Recognize the barriers to and benefits of trade liberalization and free trade policies in developing countries.

Acknowledge the role of education in facilitating technological changes and the acceptance of new ideas.

Understand the consequences of tied foreign aid and its effects on the agricultural sector of developing countries.

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Definitions:

Intentional Tort

A wrongful act done deliberately to harm another person, which can lead to civil legal liability.

Joint And Several

A legal term that refers to the responsibility of two or more parties to fully compensate for a liability, allowing the claimant to pursue an obligation from any one party as if they were all collectively responsible.

Tort Creditor

A person or entity that has a right to compensation due to damages suffered as a result of another's tortious act, such as negligence or intentional harm.

Partnership Business

A lawful business structure operated by two or more people, where both management responsibilities and profits are shared.