indicate true or false

1. An appropriate code of ethics is the backbone of effective corporate governance
2. A proper evaluation process selected by the compensation committee to assess the performance of directors does not depend on the independence of the board from the CEO and corporate governance structure
3. The internal control system of NPOs should ensure that appropriated funds are spent on the designated programs
4. The governance committee is usually responsible for identifying, evaluating, and nominating a new director to the board.
5. The oversight function is granted to the board of directors with the fiduciary duty of overseeing management in the best interests of the company and its shareholders
6. Executive compensation should be linked to performance, be established and approved by the management of the company, and be given the advisory approval of the CEO
7. The CEO, as representative of investors, has direct authority and responsibility to govern business affairs and is accountable to investors for the companys strategic performance
8. A proper evaluation process selected by the compensation committee to assess the performance of directors does not depend on the independence of the board from the CEO and corporate governance structure.
9. A mission statement is a legal document describing an organizations reasons for existence and its goals