Which of the Following Statements Regarding Family-Owned Businesses Is True

question 27

Multiple Choice

Which of the following statements regarding family-owned businesses is true?

• A)Only a small percentage of family-owned businesses survive into the second or third generation.
• B)Family-owned companies must submit a written agreement to the state in which it organizes.
• C)All family-owned companies must be closed corporations.
• D)Family-owned companies are an example of a not-for-profit corporation.

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Definitions:

Electronic Configuration

The distribution of electrons of an atom or molecule in atomic or molecular orbitals.

Boron

A lightweight, semimetallic element, used in compounds to enhance strength, hardness, and resistance to chemical change.

Natural Rubber

A polymer of isoprene (2-methyl-1,3-butadiene) harvested mainly from the latex of the rubber tree; it's elastic, water-resistant, and used in various products like tires and gloves.

Petroleum Products

Refined products obtained from the processing of crude oil, such as gasoline, diesel, and kerosene.