A board of directors can delegate some of its functions to corporate officers.

Question

Quizplus · Accepted Answer

A board of directors can delegate certain functions to corporate officers, such as the CEO, CFO, COO, and other high-ranking executives. This delegation of authority is typically outlined in the corporation's bylaws and can include tasks such as making day-to-day decisions, signing contracts, managing financial affairs, and hiring and firing employees. However, the board of directors remains ultimately responsible for overseeing the corporation and ensuring that its officers are acting in the best interests of the company and its shareholders.

A Board of Directors Can Delegate Some of Its Functions