Answer:
True
Explanation:
Shareholders are owners of any business, but they are huge in number they cannot control the business. For this they appoint board of directors.
Board of directors are said to be the highest authority in any business.
They take all the decisions of the business, and take even the decision of choosing the chairman of board of directors.
They hold every crucial power to run the business.
All the reporting whether by CEO or Manager or by any person are done to Directors.
Therefore, the statement is true.
