Multiple Choice
In the strategic management process, strategy implementation immediately follows which of the following steps?
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1. Introduction to Accounting
Business Organization
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Which of the following is a primary role of a company's board of directors?
A
Preparing and auditing the company's financial statements
B
Setting individual employee salaries and benefits
C
Overseeing the company's management and ensuring that the organization acts in the best interests of shareholders
D
Managing the day-to-day operations of the company
Verified step by step guidance1
Understand the role of a company's board of directors. The board is responsible for governance and oversight, ensuring the company operates in the best interests of its shareholders.
Eliminate options that involve operational or day-to-day management tasks, as these are typically the responsibility of the company's executives, not the board of directors.
Recognize that preparing and auditing financial statements is the responsibility of management and external auditors, not the board of directors.
Identify that setting individual employee salaries and benefits is a task for human resources and management, not the board of directors.
Conclude that the primary role of the board of directors is overseeing the company's management and ensuring that the organization acts in the best interests of shareholders.
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