The board of directors of a corporation:
A) determines the capital structure and financial policy of the corporation.
B) has the power to bind the corporation when acting as a unit or individually.
C) receives no salaries for services, although directors may receive a fee for attending board meetings.
D) All of these are correct.

Question

Quizplus · Accepted Answer

The board of directors is responsible for determining the capital structure and financial policy of the corporation. They do not have the power to bind the corporation individually, and directors often receive compensation for their services.

The Board of Directors of a Corporation