Which of the Following Is False Regarding Officers of a Corporation

question 3

Multiple Choice

Which of the following is false regarding officers of a corporation?

• A) Officers are executive managers.
• B) Officers run the day-to-day business of the corporation.
• C) In most cases an individual may serve as both a director and an officer.
• D) The rules of agency do not apply to the work of officers.
• E) Qualifications required of officers are set forth in the corporate articles and bylaws.

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Definitions:

Studying Economics

The academic pursuit of understanding how goods and services are produced, distributed, and consumed in society, focusing on the behaviors of individuals, businesses, and governments.

Studying Accounting

The process of learning about and understanding the systems for recording, classifying, and summarizing financial transactions.

Marginal Benefit

The additional contentment or utility that comes from the consumption or production of an extra unit of a good or service.

Marginal Cost

The expense associated with manufacturing an extra unit of a product.