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HW 1 - NAME Valerie Bodden HW 1 FINANCIAL MANAGEMENT K...

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HW 1 – FINANCIAL MANAGEMENT NAME: Valerie Bodden K. MATRICULA: 10-0014 1. The board of directors is the highest ranking body in a corporation, and the chairman of the board is the highest ranking individual. The CEO generally works under the board and its chairman, and the board generally has the authority to remove the CEO under certain conditions. The CEO, however, cannot remove the board, but he or she can endeavor to have the board voted out and a new board voted in should a conflict arise. It is possible for a person to simultaneously serve as CEO and chairman of the board, though many corporate control experts believe it is bad to vest both offices in the same person. a. True b. False 2. Partnerships and proprietorships generally have a tax advantage over corporations. a. True b. False 3. A disadvantage of the corporate form of organization is that corporate stockholders are more exposed to personal liabilities in the event of bankruptcy than are investors in a typical partnership.
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