The board of directors of a corporation:
A) determines the capital structure and financial policy of the corporation.
B) receives no salaries for services, although directors may receive a fee for attending board meetings.
C) has the power to bind the corporation when acting as a unit or individually.
D) All of these are correct.

Question

Quizplus · Accepted Answer

The board of directors is responsible for determining the capital structure and financial policy of the corporation. They do receive compensation for their services, and they can only bind the corporation when acting as a unit, not individually.

The Board of Directors of a Corporation