Even after commencement of business operations, officers and directors have a responsibility to comply with corporate formalities.
Corporate formalities is a term that is used to refer to the operating rules and guidelines that a corporation or business has to or must follow so as to meet its operational requirements. This in turn allows it to maintain the corporate protections that it enjoys.
Corporation refers to an entity that enjoys the backing of a law. It is separate from the directors or owners of the company.
It has the responsibility to comply with the rules and regulations so as to have a proper corporate functioning.
To learn more business here
brainly.com/question/15826771
#SPJ4
