Question

A textile corporation has two hundred stockholders. As it is inconvenient for so many stockholders to manage the company, the stockholders elect a group of individuals to oversee the company's operation and to represent their interests. In this scenario, the stockholders elect a _____.

Answer 1

The correct answer is: Board of Directors.

Step-by-step explanation:

The Board of Directors is a group appointed or elected to represent stakeholders at major companies. Every public company must have a Board of Directors. This Board sets administrative policies for executive hiring and firing executives, dividend allocation, and executive compensation.

Answer 2

board of directors.

Step-by-step explanation:

The board of directors is a group of people elected by the shareholder to essentially represent their interests and make sure that the corporations management acts on their best interest.

Since the corporation is forming the board, once the board is formed, its first task will be to appoint a CEO, CFO, and COO. When small companies grow into larger corporations then existing managers will be appointed.