Question

Who elect the officers, who take whatever actions are appropriate and in the best interests of the corporation?

1) Shareholders; officers
2) Officers; board of directors
3) Stakeholders; board of directors
4) Shareholders; board of directors

Answer 1

The shareholders elect the board of directors, who then elect the officers of the corporation.

Step-by-step explanation:

The correct answer is 4) Shareholders; board of directors.

The shareholders elect the board of directors, who in turn elect the officers. The officers are responsible for taking actions that are in the best interests of the corporation. The board of directors provides oversight and guidance to the officers, ensuring that their actions align with the shareholders' interests.

For example, shareholders may elect a board of directors who are knowledgeable about the industry and can make strategic decisions to drive the company's growth. The board of directors then hires officers who have the necessary expertise to execute those strategies and make day-to-day decisions for the corporation.