If a new venture organizes as a corporation, it is legally required to have a ________, which is a panel of individuals who are elected by a corporation's shareholders to oversee the management of the firm.
A) board of advisors
B) review team
C) team of advisors
D) accountability panel
E) board of directors

Question

Quizplus · Accepted Answer

If a new venture organizes as a corporation, it is legally required to have a board of directors, which oversees the management of the company on behalf of the shareholders. The other options, such as board of advisors, review team, team of advisors, and accountability panel, may exist in a company, but they are not legally required for corporations.

If a New Venture Organizes as a Corporation, It Is