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:

Clasts

Fragments of geological detritus or material broken off from a larger solid body, often found within sedimentary rocks.

Cement

A binder, a substance used in construction that sets and hardens and can bind other materials together, commonly used in concrete to make buildings, roads, and other structures.

Clastic Sedimentary Rocks

Rocks that are composed of broken pieces of older rocks, sedimented together by processes like weathering and erosion.

Conglomerate

A sedimentary rock made up of rounded or semi-rounded fragments within a finer-grained matrix, often indicating a high-energy environment such as a fast-flowing river.