(Learning Objective 1: Describing the authority structure in a corporation) Consider the authority structure in a corporation, as illustrated in Exhibit 10-2.

1. What group holds the ultimate power in a corporation?

2. Who is the most infl uential person in the corporation? What’s the abbreviation of this person’s title?

3. Who’s in charge of day-to-day operations? What’s the abbreviation of this person’s title?

4. Who’s in charge of accounting and fi nance? What’s the abbreviation of this person’s title?