A corporation's board of directors

Question

Quizplus · Accepted Answer

The board of directors is responsible for overseeing the management of the corporation, setting strategic goals and objectives, and making decisions on behalf of the company. They are the governing body for corporate activity and have a fiduciary duty to act in the best interests of the company and its shareholders. The day-to-day management of the corporation is typically delegated to the company's executives and managers, while the board of directors provides oversight and guidance. The taxability of dividends is determined by the tax code and regulatory agencies, not the board of directors. The design of the organizational structure of the firm is typically the responsibility of management, with input from the board of directors.

A Corporation's Board of Directors