Final answer:
The statement is false. Back-office activities refer to the internal, non-customer-facing operations of a company such as accounting and IT services, which contrast with downstream, customer-related services that are usually part of front-office operations.
Step-by-step explanation:
The statement "Back-office activities consist of downstream, customer-related services" is false. Back-office activities typically refer to the internal operations of a company that are not related to direct customer interactions. They include functions such as accounting, IT services, human resources, and compliance that support the company's front-office, which handles customer-related services. On the other hand, downstream services refer to the activities involved in the distribution and selling of a company's products or services to its customers. These actions occur after the production process and are often classified as part of the front-office operations, not the back-office.