The Board of Directors of a Corporation

question 135

Multiple Choice

The board of directors of a corporation:

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

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Definitions:

Fossil Record

The collection of preserved remains or imprints of living organisms found in sedimentary rocks, which provides historical evidence for evolution.

Evolution

The evolutionary process by which different types of life forms are speculated to have evolved and differentiated from their ancestral forms across the history of the globe.

Random Process

A procedure or phenomenon in which the outcome is unpredictable, and under identical conditions can lead to different results.

Described

Characterized or detailed in terms of appearance, function, or attributes, often used in the context of formal identification and naming in scientific classification.