In a corporation, who typically oversees corporate affairs?

• A. Board of directors and officers
• B. Members
• C. Partners
• D. Trustees

Answer: (A)

Governance and oversight in a corporation are handled by the board of directors and corporate officers. The board has fiduciary duties to shareholders, sets strategic direction, approves major decisions, and hires and monitors senior management. Corporate officers, such as the CEO and CFO, implement the board’s policies and run the day-to-day operations, reporting back to the board. Together they oversee corporate affairs like governance, strategy, risk, compliance, financial reporting, and investor relations. Other organizational forms use different leadership structures—members are typical of associations or cooperatives, partners belong to partnerships, and trustees are associated with trusts or certain nonprofits—so those roles don’t normally govern a corporation.