Business Structure
» Business Structure, Volume 4, Issue 7, 2004
If the business is a C-corporation.
3c. Does the Board of Directors exist as a true advisory body, or does it primarily exist to fill legal requirements?
Response | ||||
---|---|---|---|---|
1 | Advisory body | 27 | ||
2 | Legal requirements | 68 | ||
3 | DK/Refuse | 6 | ||
Total (%) | 101 | |||
N | 230 |
Notes: The Board of Directors in 68 percent of small, employing C-corporations exists primarily to fill a legal obligation rather than to serve as an advisory group (Q#3c).