The ________ has/have the ultimate responsibility in guiding corporate affairs and carrying out policies.
A) board of directors
B) chief financial officer
C) stockholders
D) creditors

Question

Quizplus · Accepted Answer

The board of directors is responsible for setting corporate policies and making decisions on behalf of the corporation. They have the ultimate responsibility for guiding corporate affairs and carrying out policies. The CFO is responsible for financial management, but not for overall policy decisions. The stockholders have a say in the direction of the company, but they do not have ultimate responsibility for carrying out policies. Creditors may have an interest in the financial stability of the company, but they do not have a role in guiding corporate affairs or carrying out policies.

The ________ Has/have the Ultimate Responsibility in Guiding Corporate Affairs