Question

The _________ has/have the ultimate responsibility in guiding corporate affairs and carrying out policies.

A)

chief executive officer

B)

board of directors

C)

creditors

D)

stockholders

Answer 1

The board of directors has the ultimate responsibility in guiding corporate affairs and carrying out policies. They are elected by the shareholders and help ensure that the firm runs in the interests of the shareholders.

Step-by-step explanation:

The board of directors has the ultimate responsibility in guiding corporate affairs and carrying out policies. They are elected by the shareholders and are supposed to be the first line of corporate governance and oversight for top executives. The board of directors helps ensure that the firm runs in the interests of the shareholders.