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FSOT Full Test Bank

Category - Management

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What is the main purpose of the board of directors?

to represent shareholders
to provide oversight for the CEO
to protect their own interests
to ensure that quarterly projections are met

Explanation

Answer: A - The main purpose of the board of directors is to represent shareholders. Shareholders own the company, and the board must act to protect their interests. As a practical matter, members of the board might also be major shareholders.

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