Which One of the Following Parties Has Ultimate Control of a Corporation

question 17

Multiple Choice

Which one of the following parties has ultimate control of a corporation?

• A)chairman of the Board
• B)board of directors
• C)chief executive officer
• D)chief operating office
• E)shareholders

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Definitions:

Average Product

The output obtained by dividing the total product by the number of units of the variable input used in production, ideally reflecting productivity per input unit.

Total Product

The total output or quantity of goods produced by a firm or economy at a given level of input.

Diminishing Returns

A principle stating that if one factor of production is increased while other factors are held constant, the incremental increases in output will eventually decrease.

Labor

The human effort, physical or mental, used in the production of goods and services.