The Board of Directors of a Corporation Are Elected By

question 261

Multiple Choice

The board of directors of a corporation are elected by:

• A) top managers
• B) shareholders
• C) current board members
• D) the president
• E) all of the other choices have equal votes

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Definitions:

Sale Price

The amount of money for which a product or service is sold to the consumer.

Par Value

The nominal or face value of a stock or bond, as stated by the issuing company.

Prior Period Adjustment

Adjustments made to amend previously issued financial statements for errors or changes in accounting principles.

Depreciation Expense

The systematic allocation of the cost of tangible assets over their useful lives, reflecting wear and tear or obsolescence.