The Board of Directors,voted into Office by the Shareholders,is Involved

question 112

True/False

The Board of Directors,voted into office by the shareholders,is involved in the day-to-day operations of the firm.

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Definitions:

Corporations

Legal entities that are separate and distinct from their owners, who are shareholders, and have rights to enter into contracts, own assets, and be liable for debts.

Loans

Financial transactions where one party lends money to another with the expectation that it will be repaid, usually with interest, over a specified period.

Usurious Rate

An interest rate charged on a loan that exceeds the legal limit set by law.

Principal

The main party to a transaction or contract, responsible for its fulfilment.