With respect to the board of directors of a corporation,which of the following is NOT correct?
A) They manage the business and affairs of the corporation.
B) They are the shareholders' elected representatives.
C) They must always obtain shareholder approval before deciding questions of operating policy.
D) They have the authority to delegate power to officers and agents.

Question

Quizplus · Accepted Answer

While the board of directors may seek shareholder input, they are not required to always obtain shareholder approval before making decisions related to operating policy. They are responsible for managing the business and affairs of the corporation and have the authority to delegate power as needed. However, they are elected by shareholders to represent their interests and make decisions in the best interests of the corporation.

With Respect to the Board of Directors of a Corporation,which