1. Which one of the following statements is TRUE?

   	a.	An inside director is a board member who also holds a managerial position in the company.
   	b.	Since outside directors have no other connection with the firm, they are indebted to the CEO for putting them on the board.
   	c.	Inside directors are more concerned with shareholders' interests since they are more closely concerned with firm operations.
   	d.	Company sponsorship of a local charity is an example of a nonpecuniary benefit.
   	e.	In a classified board, it is easier for dissidents to gain representation since fewer seats are up for election each year.