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:

Lewis Structure

A representation of molecules where symbols for elements are used to represent nuclei and inner-shell electrons, and dots or dashes between symbols represent electron pairs forming covalent bonds.

Ammonia

A colorless gas with a distinct sharp smell, composed of nitrogen and hydrogen (NH3), used as a fertilizer, in cleaning products, and in the synthesis of various chemicals.

Lewis Structure

A representation of molecules showing all the atoms, valence electrons, and bonding between atoms as well as any lone pairs of electrons.

Lewis Structure

A graphical representation illustrating how atoms in a molecule are bonded together and depicting any unpaired electrons present within the molecule.