Acrylic paints can be applied to a multitude of surfaces. There is a useful article about the subject giving you more detailed information.
I have painted on chip wood using oils some 40 years ago and it still looks good today. No warping on a 40 x 60 cm board 2cm strong (16x24in and 3/4in strong).
In order to arrive at a smooth surface I pasted a large sheet of white paper to the board using wallpaper glue. It still looks as good as new.
Even the chip wood panels which are only 1/2 in strong do not seem to have bent or warped over the years.
By the way the back was left raw.
I suppose I can be glad that I wasn´t into selling in those days otherwise how would I have known now. These days I prefer to paint on fine art paper, canvas, canvas panel or HDF board.