Suzanne Spinosa Was Just Elected to the Board of Directors

question 136

Multiple Choice

Suzanne Spinosa was just elected to the board of directors at United Bank Corporation. As a board member, who is she expected to represent the interests of?

• A) shareholders
• B) creditors
• C) senior bank management
• D) customers

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Definitions:

Sales Forecasts

Predictions of the future sales performance of a company, typically based on historical data, market trends, and economic conditions.

Participative Budgeting

A budgeting process where employees at all levels are involved in the development of the budget, enhancing its acceptance and usefulness.

Zero-based Budgeting

A budgeting method that starts from a "zero base" every period, requiring all expenses to be justified for each new period, as opposed to being carried forward.

Top-Down Budgeting

A budgeting approach where the budget is created by top-level management and then distributed to lower levels for implementation.