Board Members Act in the Best Interests of the Firm

question 7

Multiple Choice

Board members act in the best interests of the firm:

• A)because they are legally required to do so.
• B)when they do not own stock in the firm.
• C)when they take an extremely cautious approach to ratifying decisions.
• D)because they wish to maintain a good reputation in order to be offered other board positions.

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Definitions:

National Brand

A brand that is marketed and recognized across an entire country, offering a consistent product or service quality and experience.

Huge Retailer

A significantly large and often multinational company that sells goods directly to consumers, encompassing a wide variety of merchandise under one roof or through online platforms.

Adventure Travel

A type of tourism that involves exploration or travel to remote, exotic, and possibly hazardous areas, offering a unique and potentially challenging experience.

L.L. Bean

An American, privately held retail company founded in 1912, known for its outdoor clothing and recreation products.