All of the Following Are Elements of a Small Business

question 143

Multiple Choice

All of the following are elements of a small business definition except that these firms:

• A)have annual receipts of less than a specified amount.
• B)have fewer than 100 stockholders.
• C)are independently owned.
• D)are not dominant in its field.

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Definitions:

ADR

Alternative Dispute Resolution, a range of processes that help parties resolve disputes without traditional litigation.

Litigation

The process of taking legal action in court to resolve a dispute.

Adversarial

Describes a legal system or process where two opposing parties present their arguments to an impartial judge or jury.

Settlement Agreement

A legal agreement that resolves a dispute between two parties without the need for a trial.