Bret and Courtney Form Delite Day Care,Inc

question 18

Multiple Choice

Bret and Courtney form Delite Day Care,Inc.Ultimate respon?sibility for pol?icy decisions necessary to the management of corporate affairs rests with Delite's

• A)board of directors.
• B)incorporators.
• C)officers.
• D)shareholders.

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Definitions:

Acceptor

A drawee of a draft who has promised to honor the draft as presented by signing it on its face.

Draft

A written order by which the party creating it orders another party to pay money to a third party. Also called bill of exchange.

Instrument

A formal legal document that serves as evidence of a fact, act, or obligation, such as a deed, will, or contract.

Insane

A term describing severe mental illness or insanity, legally signifying inability to understand or control one's actions.