Describe the Nature and Role of the Board of Directors

question 19

Essay

Describe the nature and role of the board of directors in an M-form organization and discuss who generally serves on the board, the role of outside members on a board of directors and when the roles of CEO and chairman of the board should be combined or separated.

---

Definitions:

Charge Per Copy

The amount billed for each photocopy or printed page, typically in the context of office equipment or copy services.

High-low Method

A technique used in cost accounting to estimate variable and fixed costs based on the highest and lowest levels of activity.

Machine Hours

A measure of the amount of time a machine is operated, used in accounting to allocate manufacturing overhead costs.

Cost Driver

A factor that causes a change in the cost of an activity, essentially determining the level of expense incurred in producing a product or service.