In a wholly owned or closely held corporation, there really is little distinction between the functions of a board of directors and those of a board of advisers. True False

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21-02-2022
Business

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In a wholly owned or closely held corporation, there really is little distinction between the functions of a board of directors and those of a board of advisers. True False

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Tundexi Tundexi · Answer 1 · 2022-03-07T09:59:04+01:00

It is true that there is little distinction between the functions of a board of directors and those of a board of advisers in a wholly owned or closely held corporation.

What is a board of directors and board of advisors?

A board of directors refers to the elected group of individuals that represent shareholders while the board of advisors refers to the group of individuals who are appointed to provide counsel businesses.

In conclusion, it is true that there is little distinction between the functions of a board of directors and those of a board of advisers in a wholly owned or closely held corporation.