All of the Following Are Duties of the Board of Directors

question 85

Multiple Choice

All of the following are duties of the board of directors of a corporation EXCEPT _____.

• A) guaranteeing the payment of cash dividends every year
• B) electing its own officers
• C) hiring the corporation's chief executive officer
• D) authorizing major transactions of the corporation

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Definitions:

Subsidy

Financial support provided by the government to businesses, individuals, or other entities, aimed at promoting economic activities or ensuring the affordability of basic goods.

Tariffs

Taxes imposed by a government on imported goods in order to protect domestic industries or to generate revenue.

Quotas

A quota is a government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a specified period.

Free Trade Agreements

Treaties between two or more countries to establish a free trade area, where commerce is conducted without tariffs or restrictions.