The "Right of First Refusal" Refers to Which of the Following

question 162

Multiple Choice

The "right of first refusal" refers to which of the following?

• A) Partners may refuse to let one of the partners leave the business.
• B) Partners may allow one partner to have only limited liability.
• C) Partners may have first chance at buying the selling partner's shares in the business.
• D) Partners may refuse to pay out the profits of the business and instead reinvest the money back into the business.

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Definitions:

Responsiveness

The ability of a company or organization to quickly and effectively respond to customer needs, changes in the market, or operational challenges.

Key Success Factor

Critical elements or factors that are essential for an organization to achieve its business objectives and be successful.

Core Competency

Fundamental strength or advantage that a business possesses, central to its operations and critical to its long-term success.

Key Success Factors

Critical elements or factors required for an organization to achieve its business goals and objectives.