A Board of Directors Has Three Formal Responsibilities

question 54

Multiple Choice

A board of directors has three formal responsibilities:

• A) periodically update the firm's business plan, declare dividends, and write the firm's marketing plan
• B) appoint the officers of the firm, declare dividends, and oversee the affairs of the corporation
• C) write the firm's strategic plan, declare dividends, and conduct the annual meeting
• D) appoint the officers of the firm, conduct the annual meeting, and submit the firm's annual report to the Securities & Exchange Commission
• E) provide funding to the firm, write the firm's strategic plan, and submit the firm's annual report to the Securities & Exchange Commission

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Definitions:

Mental Ability

A measure of one's intellectual capabilities, including reasoning, problem solving, and the capacity to acquire knowledge.

Second-grade

A level of education in primary schools intended for children around seven to eight years old, focusing on basic literacy, numeracy, and introduction to other subjects.

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The practice of taking action to preserve or improve one's own health, including physical, emotional, and mental well-being.