Control of the firm ultimately rests with shareholders. They elect the board of directors, who then hire and fire management.

Name: Control of the firm ultimately rests with shareholders. They elect the board of directors, who then hire and fire management.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Shareholders are the ultimate owners of a firm and exercise control by electing the board of directors, who are responsible for overseeing the company's management and making key decisions, including hiring and firing the top management.

Control of the Firm Ultimately Rests with Shareholders