Merina and Nelli form Orchids, Inc. Ultimate responsibility for pol?icy decisions necessary to the management of corporate affairs rests with Orchids's

Question

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The board of directors is responsible for making policy decisions necessary for the management of corporate affairs. While officers and shareholders may play important roles in the day-to-day operations and direction of the company, the ultimate responsibility for policy decisions rests with the board of directors. The incorporators may have played a role in establishing the company, but they typically do not have ongoing decision-making authority.

Merina and Nelli Form Orchids, Inc