Doris Harrison is in the process of launching a financial services firm. She plans to incorporate the firm. Because the firm will be incorporated, Doris is legally required to have a:
A) board of investors
B) board of advisors
C) customer advisory board
D) board of directors
E) panel of advisors and peers

Question

Quizplus · Accepted Answer

As an incorporated firm, Doris is legally required to have a board of directors. This board will be responsible for overseeing the management and direction of the company, making important strategic decisions, and ensuring that the company is complying with all applicable laws and regulations. While it may be advisable for her to seek advice from a variety of sources, such as a panel of advisors or peers, and to gather input from customers through a customer advisory board, these are not legal requirements for an incorporated firm. Similarly, a board of investors is not a legal requirement, although investors may be involved in the company's governance depending on the specific arrangements made between the company and its investors.

Doris Harrison Is in the Process of Launching a Financial