The Board of Directors Usually Includes Some Individuals Who Are

question 89

Multiple Choice

The board of directors usually includes some individuals who are not employed by the corporation.These people are referred to as _____.

• A)priority directors
• B)outside directors
• C)stockholders
• D)members of top management

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Definitions:

Tangible

Refers to physical objects or assets that can be seen and touched.

Electronic Record

A document or data that is created, stored, and retrievable in electronic form.

Automatic Perfection

A condition in secured transactions where a security interest in collateral is considered perfected immediately upon attachment without the need for additional steps.

Financing Statement

A document filed to give public notice that a creditor has or may have an interest in the personal property of a debtor (a move often associated with secured transactions).