Denise,Ervin,and Flem Occupy the Positions of Directors on the Board

question 5

Multiple Choice

Denise,Ervin,and Flem occupy the positions of directors on the board of Gallery Corporation.As directors,they may not

• A)authorize major corporate policy decisions.
• B)decide to issue stock and bonds,and declare dividends.
• C)select and remove corporate officers.
• D)support businesses that directly compete with Gallery.

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Definitions:

Abolition

The action of abolishing a system, practice, or institution, such as slavery or capital punishment.

Private Property

Ownership of assets (land, buildings, goods) by individuals or corporations, legally protected by the government.

Karl Marx

A 19th-century philosopher, economist, and social scientist best known for his theories about capitalism and communism.

Capitalist

An economic system in which private individuals rather than the state own and control property and businesses, operating for a profit.