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Question
Explain the following term/concept:
Director
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Solution
(1) The elected representatives of the shareholders are called Directors of the company. The shareholders vest in them all the powers of managing the affairs of the company. In the company management, the role of Directors is threefold. Via (a) as the agents of the company (b) as the trustees of the company and (c) as the managing partners.
(2) The directors occupy a key (important) position in the management of the company. They are responsible for decision making. Framing policies and plans. They exercise their powers and authorities collectively as a Board. They sometimes do not remain in the company’ office. So they ask for the information from the secretary, which helps them to make proper decisions.
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RELATED QUESTIONS
Select the correct answer from the option given below and rewrite the statement:
___________ looks after the management of a company.
Match the pairs:
| Group ‘A’ | Group ‘B’ |
| a) Directors | 1) At least 2 Directors |
| b) Absenteeism of Director in Board Meetings | 2) At least 3 Directors |
| c) Public Company | 3) Disqualification of director |
| d) Private Company | 4) Representatives of shareholders |
| e) Notice of a Routine Board Meeting | 5) 21 clear days |
| 6) 7 days | |
| 7) 70 days | |
| 8) Representative of public | |
| 9) At least 20 directors | |
| 10) At least 30 directors |
Write a word or a term or a phrase which can substitute the following statement.
An employee of a company who provides guidance and advice to the Board of Director about business matters.
Write a word or a term or a phrase which can substitute the following statement.
A meeting of all the directors of a company.
Write a word or a term or a phrase which can substitute the following statement.
A written invitation was given to the Director to attend the meeting.
State whether the following statement is true or false:
Director can take decisions individually.
Select the correct option from the bracket:
| Group A | Group B |
| Duty of directors | ______________ |
Justify the following statement:
The Board of Directors are the elected representatives of the shareholders.
Justify the following statement:
The secretary should take certain precaution while corresponding with directors
Justify the following statement:
Directors exercise their powers and authorities collectively as a Board.
Explain the following term/concept:
Notice and Agenda of the Board meeting
Explain the following term/concept:
Initiative
Answer in one sentence:
Can a Director who was absent at Board Meeting get a copy of minutes of that Board Meeting?
Answer in one sentence:
When does a Director vacate his office due to absenteeism at Board Meeting?
