The Nature and Extent of the Implied Authority of a Company

question 18

Multiple Choice

The nature and extent of the implied authority of a company director to act on behalf of the company:

• A)Is usually expressly granted by the board of directors as a whole.
• B)Is not affected by the position of the director on the board.
• C)Tends to decrease with the seniority of the director's position.
• D)Tends to increase with the seniority of the director's position.

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Definitions:

Igneous Rock

A type of rock formed through the cooling and solidification of magma or lava, with examples including granite and basalt.

Gabbro

A medium- to coarse-grained mafic igneous rock, the phaneritic equivalent of basalt.

Feldspar

Feldspar is a group of abundant rock-forming minerals that are major components of igneous, metamorphic, and sedimentary rocks, characterized by their silicate structure.

Quartz

A hard, crystalline mineral composed of silicon dioxide, widely distributed in many types of rocks and used in various industrial applications.