Final answer:
The statement that the board responsibility to obedience means that the board must do what the CEO asks them to do is False. The board of directors has a fiduciary duty to act in the best interests of the company and its shareholders.
Step-by-step explanation:
The statement that the board responsibility to obedience means that the board must do what the CEO asks them to do is False. The board of directors has a fiduciary duty to act in the best interests of the company and its shareholders. They are responsible for providing oversight, making strategic decisions, and ensuring the company's long-term success. They do not have to blindly follow the CEO's instructions.