Steve,Harry,and Chris,who Own and Operate a Family Auto Parts Store,are

question 22

Multiple Choice

Steve,Harry,and Chris,who own and operate a family auto parts store,are experiencing tough times during a downturn in the local economy.To help the store survive these conditions,the brothers agree to each take a 25 percent reduction in salary for a one-year period.This decision:

• A)demonstrates a weakness of financial management.
• B)illustrates an important advantage of a family business.
• C)reveals a lack of customer orientation in a family business.
• D)reflects a lessening of entrepreneurial ambition in second-generation businesses.

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Definitions:

Safe Water

Water that is clean and free from contaminants, making it suitable for drinking and cooking without risking health.

Substantial Foreign Investment

Significant investment by individuals or companies from one country into business interests in another country.

Authoritarian Governments

Political systems characterized by strong central power and limited political freedoms. Individual freedoms are often sacrificed for the sake of order and security.

Direct Political Control

The exercise of authority by a governing entity over the day-to-day governance and policy-making of a territory, without intermediary bodies.