The___________ has/have the ultimate responsibility in guiding corporate affairs and carrying out policies.
A) chief executive officer
B) board of directors
C) stockholders
D) creditors

Question

Quizplus · Accepted Answer

The board of directors is responsible for guiding corporate affairs and implementing policies on behalf of the company. While the CEO is responsible for day-to-day operations, the board sets the overall direction and strategy for the company. Stockholders technically own the company, but they delegate decision-making power to the board. Creditors do not have a role in guiding corporate affairs unless the company defaults on its debts.

The___________ Has/have the Ultimate Responsibility in Guiding Corporate Affairs and Carrying