A board of directors' three formal responsibilities are to appoint the officers of the firm, declare dividends, and ________.
A) write the firm's strategic plan
B) conduct the annual meeting
C) provide funding for the firm
D) represent the firm in public relations activities
E) oversee the affairs of the corporation

Question

Quizplus · Accepted Answer

The board of directors has the formal responsibility to oversee the affairs of the corporation. This includes making decisions about the company's strategy, finances, and overall direction. While the board may also conduct the annual meeting, provide funding for the firm, and represent the firm in public relations activities, these are not considered formal responsibilities.

A Board of Directors' Three Formal Responsibilities Are to Appoint