TEST I. MODIFIED TRUE OR FALSE. Please write TRUE if the statement is true, otherwise write FALSE and underline the word that make the statement false and make it correct. Please write your answer in the space provided before the given number. (1 point for true and 2 points for false - the word false and the underlined word plus correct answer. 1. The CEO of a company acts as the representative of the particular company through press conferences, professional organizations, and community interactions. 2. Effective corporate governance demands superior performance from everyone involved in the process. 3. Environmental Ethics is the study of man's moral obligation to preserve the environment and the natural order of thing. 4. External Stakeholders are indirectly influenced by the organization's operations. 5. Participatory orientation activities such as provision of health, family planning, or education services. 6. The responsibility of the Board is caring for shareholder's interest. 7. The President of the company is responsible for almost all financial matters. 8. Corporation is a mechanism established to allow different parties to contribute capital, enterprise, and labor for their mutual benefit.. 9. The CEO is elected to act as the Head of the Board of Directors or Trustees. 10. Boards should follow 7 steps to be considered effectively governed