An Advantage of a Family Business Is That Because Key

question 2

True/False

An advantage of a family business is that because key employees are related and trust one another, a firm can spend less on systems designed to reduce theft and to monitor employees' work habits.

Know the benefits of Roth retirement plans.

Recognize good and bad general investment guidelines.

Understand the concept of risk management in personal investment planning.

Identify the roles and responsibilities outlined in the governance section of an IPS.

---

Definitions:

Instrument

A legal document formalizing an agreement or right, such as contracts, wills, or deeds.

Conditional Order

Refers to an order in a legal or financial context that will only be executed if certain conditions are met.

Negotiable Instrument

A financial document, such as a check or promissory note, that contains a promise to pay a specific amount of money to the bearer or assignee, which can be transferred by endorsement or delivery.

Promissory Note

A financial instrument containing a written promise by one party to pay a certain sum of money to another party under specified conditions.