The board of directors is typically responsible for ________.
A) approving strategic goals and plans
B) managing day-to-day operations
C) arranging finance for approved long-term investments
D) maintaining and controlling the firm's daily cash balances

Question

Quizplus · Accepted Answer

The board of directors is responsible for approving strategic goals and plans. They set the direction and vision for the company, and establish policies and objectives to achieve these goals.

Answer: C 
 The board of directors may arrange finance for approved long-term investments. They oversee the financial performance of the company, and may be involved in important investment decisions.

Answer: D 
 The board of directors is not typically responsible for maintaining and controlling the firm's daily cash balances. This is a task usually performed by financial managers or accountants within the organization.

Therefore, the correct choices are A and C.

The Board of Directors Is Typically Responsible for ________