Which of the Following Statements About Advisory Boards Is Incorrect

question 43

Multiple Choice

Which of the following statements about advisory boards is incorrect?

• A) If a firm has a board of directors, it is not permitted to have an advisory board.
• B) Many people are more willing to serve on a company's board of advisors than its board of directors because it requires less time and there is no potential legal liability involved.
• C) Most boards of advisers have between 5 and 15 members.
• D) A growing number of startups are forming advisory boards.
• E) An advisory board can be established for general purposes or can be set up to address a specific issue or need.

---

Definitions:

Consumerism

The preoccupation with and an inclination towards the buying of consumer goods.

Economic Prosperity

A state of flourishing financial health and growth, marked by a high level of income, low unemployment, and sustainable development.

1920s

A decade marked by significant cultural, economic, and political changes worldwide, known for economic prosperity, the Prohibition era, and the Jazz Age in the United States.

1950s

A decade marked by post-World War II recovery, significant cultural shifts, economic prosperity in the West, and the heightening of the Cold War.