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The _________ is responsible for the appointment of the CEO.a.SEBIb.MCAc.boardd.directors

Question

The _________ is responsible for the appointment of the CEO.a.SEBIb.MCAc.boardd.directors

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Solution

The correct answer is c. board. The board of directors is responsible for the appointment of the CEO.

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The board of directors of a corporation:Multiple ChoiceIs elected by the corporate registrar.Are responsible for day-to-day operations of the business.Does not have the power to bind the corporation to contracts, due to lack of mutual agency.May not also be executive officers of the corporation, due to the separate entity principle.Is responsible for overseeing corporate activities.

Hubbard, Rice and Galvin assert that one of the key roles for the board is to:Question 10Select one:a.approve remuneration packages for all employeesb.conduct regular audits of all activitiesc.appoint and review the performance of the CEOd.analyse and implement major investment decisions

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