The Board of Directors of a Corporation

question 238

Multiple Choice

The board of directors of a corporation:

• A)Are elected by the corporate registrar.
• B)Are responsible for day-to-day operations of the business.
• C)Do not have the power to bind the corporation to contracts,due to lack of mutual agency.
• D)May not also be executive officers of the corporation,due to the separate entity principle.
• E)Are responsible for overseeing corporate activities.

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Definitions:

Argument

A rationale or series of arguments presented with the goal of convincing others of the validity or fallacy of a certain action or idea.

Appeal to Ignorance

A fallacy that asserts a proposition to be true because it has not been proved false or vice versa.

Atlantis

A mythical island nation mentioned in Plato's works, "Timaeus" and "Critias," as a powerful and advanced civilization that purportedly sank into the ocean in a single day and night of misfortune.

Fallacy

An error in reasoning or argumentation that leads to a conclusion being invalid or deceptive, often due to a flaw in the structure of the argument.