Final answer:
The stockholders who can authorize the closure of a project are the top management or the board of directors who are elected or appointed by the shareholders. Functional managers usually do not have the authority to unilaterally close a project.
Step-by-step explanation:
The stockholders who can authorize the closure of a project are the ones who have the authority and power to make decisions regarding the company's operations and financial matters. In this case, the functional manager may not typically have the authority to unilaterally close a project. Generally, the decision to close a project is made by the top management or the board of directors, who have the ultimate responsibility for the company's strategic direction and decision-making.
These individuals are usually elected or appointed by the shareholders, who are the owners of the company. Shareholders have voting rights based on their ownership of shares in the company, and they exercise their voting power in various ways, such as in the election of directors, approving major decisions, and authorizing significant changes in the company's operations, including the closure of a project.
Ultimately, the specific processes and requirements for decision-making and project closure would be outlined in the company's bylaws or corporate governance documents, which may differ from one company to another.