What is the role of the Board of Directors under the Revised Corporation Code?

The role of the Board of Directors under the Revised Corporation Code is primarily to manage the business and affairs of the corporation. This responsibility encompasses a wide range of tasks, including setting corporate policies, making strategic decisions, and overseeing the overall direction of the company to align with both short-term and long-term goals. The Board serves as a critical decision-making body that ensures the corporation is operated effectively and in the best interests of the shareholders and stakeholders.

In fulfilling this role, the Board must adhere to their fiduciary duties, which include acting in good faith and with a reasonable degree of care. These responsibilities highlight the authority the Board holds in guiding the corporation's operations and strategy.

Other choices highlight important aspects of a corporation's functioning but do not accurately reflect the comprehensive and managerial essence of the Board's primary role. For instance, acting as representatives of shareholders in public relations does not encompass the full scope of responsibilities, nor does providing legal oversight cover the operational management aspect. Similarly, while financial oversight is crucial, the handling of all financial accounts is typically delegated to specific officers or management rather than the Board collectively. Thus, the B choice stands out as the correct and most representative description of the Board’s primary role within the corporate structure.