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Question 525 - CPP discussion
Provisions for the establishment of emergency lines of executive succession should be included in a company's emergency plans. Which of the following cannot be relied on as being valid in making decisions in this regard?
A.
The board of directors sets general policy.
B.
The board of directors is the entity legally responsible for corporate activity.
C.
The board of directors usually meets at stated times such as monthly or perhaps even only quarterly.
D.
Responsibility for day-to-day operations is vested in the officers.
E.
Generally speaking, state statutes usually vest specified functions in particular officers and usually set out in detail the duties of officers.
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