Respuesta :
True. When it comes to managing a corporation, the corporation relies on its board of directors and officers.
What is a corporation?
A corporation is a collection of individuals or a business that has been given legal status as a single entity by the state and is used for certain legal purposes. Early corporations were created with a charter. The majority of governments currently permit the registration of new companies.
When opposed to older company organizations like sole proprietorships and joint partnerships, one of the most alluring early advantages that corporations gave to their investors was restricted liability. Limited liability refers to the fact that a passive shareholder in a company will not be held personally accountable for the business's torts (involuntary injuries) committed against a third party or for its legally agreed-upon responsibilities. Because the parties to the contract might have consented to it and could have opted to waive it by contract, limited liability under contracts is not in dispute. Limited responsibility in tort, however, continues to be debatable since third parties refuse to give up their right to sue shareholders.
To learn more about corporations:
https://brainly.com/question/14656092
#SPJ4
