True or False:

The licensing and regulation of financial advisers is one way by which the government tries to deal with the problem of inadequate information that financial firms have about their customers.

That statement is false.

Explanation:

It's the other way around.

The licensing and regulation of financial advisers is actually a way for government to protect customers from unqualified 'financial firms' that might screw them over.

Without any licensing or regulation, any people could pretend to be a financial advisers and trick people to put their money in their firms.

In order to obtain a license as a financial advisers, you need to  pass the test called  Investment Company and Variable Contracts Products Representative exam,  

Obtaining this license means that you're knowledgeable enough in finances and has the credibility to give safe/correct advice for the customers.

the definition of a small business is an independently owned and operated company that is limited in size and in revenue depending on the industry. a local bakery that employs 10 people is an example of a small business. a manufacturing facility that employees less than 500 people is an example of a small business.