Question

The board of directors of a corporation: multiple choice may not also be executive officers of the corporation, due to the separate entity principle. do not have the power to bind the corporation to contracts, due to lack of mutual agency. are responsible for day-to-day operations of the business. are responsible for and have final authority for managing corporate activities. are elected by the corporate registrar.

Answer 1

The board of directors take all the decisions of the corporation and are responsible for them. Thus, the correct option is -

are responsible for and have final authority for managing corporate activities.

They have the final authority to carry out the managing activities functions.