The Board of Directors' Primary Responsibility Is

question 32

Multiple Choice

The board of directors' primary responsibility is:

• A) financial reporting to meet SEC requirements.
• B) internal control to protect the interests of shareholders, creditors, and other stakeholders.
• C) to minimize the ability of management to expropriate shareholder value through financial statement and other forms of fraud and financial malfeasance.
• D) All of the above are correct answers.

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Definitions:

Employment Law

A branch of law that deals with the rights and obligations of working individuals, including issues related to hiring, dismissal, work conditions, and discrimination.

Collective Bargaining

The process through which unions negotiate with employers on behalf of their members to establish employment contracts, covering wages, hours, benefits, and working conditions.

NLRA

The National Labor Relations Act, a foundational law in the United States that protects employees' rights to organize and engage in collective bargaining.

Injunction

A legal order issued by a court that compels a party to do or refrain from doing specific acts.