Only the Board of Directors May Approve Fundamental Changes in the Corporation

question 73

True/False

Only the board of directors may approve fundamental changes in the corporation.

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Definitions:

Investing Activities

Transactions involving the purchase and sale of long-term assets and other investments, not including cash equivalents.

Common Stock

A type of equity ownership in a corporation, representing claims on a portion of its earnings and assets, with voting rights on corporate matters.

Investing Activities

Transactions involving the purchase and sale of long-term assets and other investments, not including inventory, reported in the cash flow statement.

Financing Activities

Transactions that result in changes in the size and composition of the equity capital or borrowings of the entity.