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0 tracked cards Business Associations

A newly incorporated business has shareholders, a board of directors, officers, employees, creditors, and customers. A student asks who generally has legal authority to manage or direct the corporation's business and affairs.
Which statement is most accurate?

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Creditors generally manage the corporation once the corporation borrows money. The board generally manages or directs the corporation's business and affairs. Customers manage the corporation by choosing whether to buy products. A promoter manages the corporation forever after signing the first preincorporation contract.

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