Which of the Following Is a Guideline That Should Be

question 50

Multiple Choice

Which of the following is a guideline that should be followed in a family business?

• A) to be hired, family members must meet more stringent criteria than nonfamily members
• B) family members should be supervised by older family members whenever possible
• C) family members should stay in entry-level positions indefinitely
• D) family members must meet the same standards as nonfamily members in performance reviews

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Definitions:

Winding-Up

The process of completing unfinished partnership business.

Dissolution

The process of legally dissolving a corporation or partnership, effectively ceasing its operations and business activities.

Partnership

A partnership refers to a lawful business structure operated by two or more people who jointly manage and share the profits.

Provisional Dissolution

The temporary termination of a company's legal existence, subject to certain conditions or pending outcomes.