Regarding Pattern 1 and Pattern 2 Families, Most Families Will

question 20

Multiple Choice

Regarding pattern 1 and pattern 2 families, most families will

• A) Relate more to pattern 1
• B) Relate more to pattern 2
• C) Find themselves somewhere between the two
• D) Find nothing that relates to their family

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Definitions:

Preferred Stock

A class of stock that carries with it the right to receive payment of dividends and/or the distribution of assets on the dissolution of the corporation before other classes of stock receive their payments.

Dividends

Net profits, or surplus, set aside for shareholders.

Dissolution

A change in the relation of partners caused by any partner ceasing to be associated in the carrying on of the business.

Limited Liability Company

A business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.