Which of the Following Is an Essential Element for the Longevity

question 43

Multiple Choice

Which of the following is an essential element for the longevity of family businesses?

• A) Conflict resolution
• B) Family first, business second
• C) Hire all family members regardless of their interests
• D) Hire an incompetent family member

---

Definitions:

Contract

A legally binding agreement between two or more parties that outlines mutual obligations.

Creditor

An individual or institution that lends money or extends credit to another, with the expectation of being repaid.

Donee

An individual or entity that receives a gift or donation.

Vested

Having a secured right or interest in a property, benefit, or privilege that is not subject to being taken away.