Final answer:
The duties of the board of directors include (A) appointing officers to manage the corporation and (C) establishing corporate policies. They do not manage the day-to-day activities of the corporation nor appoint themselves; shareholders elect them.
Step-by-step explanation:
The question relates to the duties of the board of directors within a corporation. The main responsibilities of board members typically include appointing officers to manage the corporation and establishing corporate policies. Unlike the officers who manage the daily activities of the company, the board of directors primarily works in a governance role.
They do not usually handle day-to-day operations and also, the board members do not appoint themselves; they are elected by the shareholders.
Therefore, the correct answers are:
- A. Appoint officers to manage the corporation.
- C. Establish corporate policies.
Top executives often have substantial influence over selecting candidates for the board of directors, and while in theory, the board is there to serve the shareholders' interests, there are cases where this governance structure may fail to provide accurate information to investors, as happened with Lehman Brothers.