Which of the Following Is Among the Major Duties of a Board

question 8

Multiple Choice

Which of the following is among the major duties of a board of directors?

• A)Inspecting the overall advertising and positioning message for the firm
• B)Ensuring ethical conduct
• C)Reviewing all employees
• D)Selecting front-line managers
• E)Lobbying on behalf of the firm

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Definitions:

Financial Statements

Materials outlining a firm's financial health, incorporating its balance sheet, income statement, and cash flow statement.

Adjustment

Modifications made to account balances in order to correct financial statements or to allocate transactions correctly.

Accrual Accounting

An accounting method that recognizes revenue and expenses when they are incurred, not necessarily when cash is exchanged, enhancing the accuracy of financial statements.

Financial Statements

Formal records of the financial activities and position of a business, organization, or person, including balance sheets, income statements, and cash flow statements.