Some Generally Recognized Ways to Transfer a Family-Owned Business to Family

question 23

Multiple Choice

Some generally recognized ways to transfer a family-owned business to family members are:

• A) to hire the children as CEO's and let them assume management.
• B) by selling it to a third party who will guarantee to include the children as top executives.
• C) close the doors, walk away, and let the children assume operations.
• D) through a gifting program or joint ownership.

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Definitions:

Cultural Constraints

Limitations placed on individuals' behaviors, thoughts, and feelings by societal norms and expectations.

Sexual Scripts

Socially learned ways of responding in sexual situations, outlining the roles, actions, communications, and expectations for sexual behavior.

Sexual Double Standard

The social norm that allows or excuses certain sexual behaviors in one gender but not the other, often more permissive for men than women.

Bisexuality

Sexual attraction to both males and females.