A business that is operated by a board of directors is called a __________.

Question

Quizplus · Accepted Answer

A corporation is a type of business organization that is operated by a board of directors. The board of directors is elected by the shareholders, who are the owners of the corporation. The board of directors is responsible for making major decisions about the direction of the corporation and for appointing key executives to manage the day-to-day operations of the business. A sole proprietorship is owned and operated by one person, a partnership is owned by two or more people, and a limited partnership is a partnership with both general partners and limited partners.

A Business That Is Operated by a Board of Directors