Assume That an Entrepreneur Signs an Agreement with a Bank

question 39

Multiple Choice

Assume that an entrepreneur signs an agreement with a bank wherein the bank holds title and ownership of the entrepreneur's business and will transfer that title and ownership to the entrepreneur's child when the child reaches the age of 21. This kind of an arrangement is known as

• A) a limited partnership.
• B) a corporation.
• C) a trust.
• D) a business valuation plan.
• E) None of the above.

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Definitions:

Paid Family Leave

Employment benefit allowing workers to take paid time off to attend to family matters, such as childbirth or family illness.

The United States

A country in North America with 50 states and a federal district, known for its economic and military influence globally.

Paid Leave

Time off from work for which an employee is compensated, often due to reasons such as vacation, illness, or family care.

New Mothers

Refers to women who have recently given birth or adopted a child, experiencing the beginning phase of motherhood.