Generally, a President of a Corporation Does Not Have the Authority

question 38

Multiple Choice

Generally, a President of a corporation does not have the authority to do any of the following except:

• A) make a long-term employment contract.
• B) mortgage corporate property.
• C) call a special meeting.
• D) execute commercial paper in the name of the corporation.

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Definitions:

Low-Priced Retailers

Retail businesses that focus on offering goods to consumers at low prices, typically by reducing overhead costs or operating on thin profit margins.

Economic Contraction

Economic contraction is a period of economic decline marked by falling GDP, decreased spending, and increased unemployment.

Private-Owned Enterprises

Businesses that are fully owned by private individuals or corporations, as opposed to being owned by the government or public entities.