38. Incorrect. The answer is false not true. In business, the fish-or-cut bait decision does not pertain to forms of governance but to how a person who runs a fishing boat should spend their time. Should they spend their resources producing (fishing) or investing to produce later (cutting bait). The form of governance decision is the make-or-buy decision. Vertical inregration is the make decision, while the other forms of governance are buy decisions.