From the Perspective of the Public,the Primary Job of the Board

question 91

Multiple Choice

From the perspective of the public,the primary job of the board of directors is

• A) to lend credence to the decisions of the executive committee.
• B) dictated solely by legal requirements.
• C) to act as representatives for public identification.
• D) to closely monitor the actions of management.
• E) insulated from legal judgments because management actually makes the decisions.

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Definitions:

Acre of Land

A unit of area used in the United States and the United Kingdom, equivalent to 43,560 square feet.

Price Mechanism

The system by which the forces of supply and demand determine the prices of goods and services and allocate resources in an economy.

Usury Laws

Regulations governing the amount of interest that can be charged on a loan, intended to prevent lenders from imposing excessively high interest rates.

Price Ceiling

A legal maximum price that can be charged for a good or service, typically set by government to protect consumers.