If you were designing the composition and acceptable practices for the board of directors of a new corporation, which of the following practices would you suggest be implemented? Yes, recommend implementation No, do not recommend implementation Suggested Practice The board should recommend that the company keep financial records and report financial statements that are in compliance with generally accepted accounting standards. The company's charter should not contain a shareholder rights provision. The ratio of outside to inside board members should be one outside member for every four inside members. Senior management's cash bonuses should be tied solely to the firm's short-term share-price performance. o