What Is the Connection Between the Concept of Accountability and Corporate

question 28

Multiple Choice

What is the connection between the concept of accountability and corporate governance?

• A)the board reviews poor decisions and punishes the person responsible
• B)the board delegates decision making to employees but retains ultimate responsibility
• C)decisions are made by the person who needs to act on the decision irrespective of their position in the organisation
• D)board members are only accountable for decisions made by the board.

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Definitions:

Preponderantly Conforming

A legal term used to describe goods that substantially meet the specifications or requirements outlined in a contract, despite minor discrepancies.

Uniform Commercial Code

A set of laws that provide legal rules and regulations governing commercial or business dealings and transactions.

Restatement of Contracts

The Restatement of Contracts is a comprehensive compilation of general principles regarding contract law, serving as a guide for judges and lawyers.

Judicial System

The system of courts that interprets and applies the law in the name of the state or country.