Which of the Following Statements About Advisory Boards Is Incorrect

question 55

Multiple Choice

Which of the following statements about advisory boards is incorrect?

• A) The fact that a corporation has a board of directors does not preclude it from establishing one or more advisory boards.
• B) An advisory board can be established for general purposes or can be set up to address a specific issue or need.
• C) Similar to a board of directors, an advisory board has legal responsibility for the firm in certain areas.
• D) An advisory board is a panel of experts who are asked by a firm's managers to provide counsel and advice on an ongoing basis.
• E) A growing number of startups are forming advisory boards.

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Definitions:

Associative Networks

A model in psychology that explains how thoughts and memories are interconnected through associations.

Content-Free Schemas

Mental structures that organize general concepts or strategies rather than specific information or content.

Exemplary Prototypes

Ideal or highly representative examples of a category or class that serve as benchmarks or standards.

Schema

A cognitive framework or concept that helps organize and interpret information.