Which of the following is not true concerning corporations ........

Management (RBI) Corporate Governance

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Which of the following is not true concerning corporations?

Directors owe a fiduciary duty to the corporation

All shareholders owe a fiduciary duty to the corporation.

Officers owe a fiduciary duty to the corporation

Directors who act in good faith may use the business judgment rule as a defense

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Explanation:

The requirement is to identify the item that is not true concerning corporations.All shareholders owe a fiduciary duty to the corporation is true because shareholders do not owe a fiduciary duty to the corporation. However, majority shareholders owe a fiduciary duty to minority shareholders.A fiduciary is a person or organization that acts on behalf of another person or persons to manage assets. Essentially, a fiduciary owes to that other entity the duties of good faith and trust.