Kế toán doanh nghiệp - Chapter 11: Reporting and Interpreting Owners’ Equity

Ultimate control of a corporation rests with the stockholders. At their annual meeting, stockholders elect the board of directors and vote on important management issues facing the company. The members of the board of directors hire the executive officers of the corporation. Finally, officers of the corporation empower others to hire needed employees. Employees, officers, and members of the board of directors may also be owners of the corporation.