Which of the Following Is True as an Advantage of Businesses

question 29

Multiple Choice

Which of the following is true as an advantage of businesses run by a group of tight-knit family members?

• A) Succession issues don't crop up in family-owned businesses.
• B) Role conflicts never happen in family owned businesses.
• C) Board of members is not used in family-owned businesses.
• D) Communication-based integration is most effective in family-owned business.

Analyze and determine planning, flexible, and actual budgets.

Evaluate performance through variance analysis including spending, activity, and overall variances.

Understand the impact of activity levels on budgeted and actual costs and incomes.

Interpret and solve for net operating income under different scenarios.

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Definitions:

Ability

Innate and learned competency; talent required to perform a task; one’s level of achievement based on skill, motivation, and expectation that one will succeed. The greater the ability, the greater the potential for leadership effectiveness. See job knowledge.

Servant Leader

A leadership philosophy which posits that the main goal of a leader should be to serve others, placing the needs of the team above their own.

Servant Leadership

A leadership philosophy that emphasizes the leader's role as a servant first, prioritizing the needs of the employees and organization over personal gain.

Participative Leadership

A leadership style where the leader involves team members in decision-making processes, fostering collaboration and collective responsibility.