Because it depends on whether you 1) require that the N pieces be congruent and 2) what counts as a cut. I think the textbook answer is based on assuming 1) no, and 2) cutting along a line segment at least as long as a side.
Alternately, what counts as a "board" and a "cut".
Then you get the answer by assuming you cut a square board in half, then one of the pieces into squares (which requires cutting along a line segment half as long).