A Board of Directors Is Elected as a Representative of the Corporation's

question 18

Multiple Choice

A board of directors is elected as a representative of the corporation's:

• A)Top management.
• B)Stakeholders.
• C)Shareholders.
• D)Customers.

---

Definitions:

Profit Center

A profit center is a branch or division of a company that is responsible for generating its own revenue and profit, evaluated independently.

Financial Statements

Papers that offer a summary of a firm's financial status, featuring the balance sheet, income statement, and cash flow statement.

Income Statement

A financial report that shows a company's revenues, expenses, and net profit or loss over a specific period.

Balance Sheet

A document which condenses the details of a corporation's assets, liabilities, and owners' equity at a certain moment, offering a glimpse into its financial health.