How is corporate governance best defined? Group of answer choices A system of decentralized mechanisms that assists a firm in meeting its goals The formal system of oversight, accountability, and control for organizational decisions and resources The exercise of control and authority by those in mid-management positions The extent to which the content of workplace decisions is aligned with a firm's stated strategic direction The philosophy that a board or CEO holds regarding accounting methods

A) formal system of oversight, accountability, and control for organizational decisions and resources

Explanation:

Corporate governance is the set of processes and tools which controls the operations of an organization. The responsibilities of the employees are known by the structure of governance and the principles the organization follows.

Corporate governance eliminates the conflict of interest that arises in the organization. Corporate governance is basically dictates how an organization should function.