Answer:
The powers of stockholders are to be given discounts on the company's products.
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.
<h3>What is a board of directors and
board of advisors? </h3>
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.
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Financial reporting objectives for companies, according to the conceptual framework, are based on user needs, to be used as a periodic assessment of organizational performance.
<h3 /><h3>Financial reports</h3>
Responsible for supporting organizational decision-making, their objective is to analyze, monitor and report the performance of an organization, to determine the financial health of the business, demonstrate transparency and assist in the decision-making process.
Therefore, financial reporting objectives are based on user needs, ie a company uses such reports to measure performance, determine projections, analyze resource utilization and make more effective decisions.
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