Which of the following statements is true of the board of directors of a corporation?
A) It elects the stockholders of the corporation.
B) It establishes the corporation's mission.
C) The board members of a corporation often take an active role in the day-to-day management of the corporation.
D) The board members of a corporation assume unlimited personal liability for the corporation's debts.

Question

Quizplus · Accepted Answer

The board of directors is responsible for establishing the corporation's mission and overall strategic direction.

Which of the Following Statements Is True of the Board