Characteristics of a Typical Family Business Include All of the Following

question 51

Multiple Choice

Characteristics of a typical family business include all of the following except______ .

• A) If the family business stops growing, then the overlap of family, management, and ownership will leave the business helpless during succession.
• B) The unique competitive advantage that a family business can gain if the family members remain unified.
• C) The family members themselves, with all they have to offer the business.
• D) The dream of the owner to ensure the business remains in the family and a strong will to continue from one generation to another.
• E) The willingness of the business to use its financial resources for entrepreneurial activities.

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Definitions:

Free Blacks

African Americans who were not enslaved before the abolition of slavery, living either by manumission, birth to free parents, or in regions where slavery was not enforced.

State Constitution

The fundamental legal document outlining the structure, functions, and principles of government within a specific state, subordinate to the federal constitution.

Missouri Compromise

An agreement passed in 1820 that allowed Missouri to enter the Union as a slave state and Maine as a free state, while banning slavery in the remainder of the Louisiana Territory north of the 36° 30′ latitude.

Free State

Denotes a state in which slavery was not legally permitted, especially in the context of pre-Civil War United States.