While a Large Percentage of Business Founders Plan to Pass

question 34

Multiple Choice

While a large percentage of business founders plan to pass on their businesses,few create management succession plans because:

• A)they don't know how to do it.
• B)they are reluctant to let go of the business.
• C)they can't afford the attorneys' and accountants' fees.
• D)they don't feel they need one because they know which child will assume management of the business.

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Definitions:

Lower-Status Listener

A listener perceived to have a lower hierarchical position or less power in a given social or professional context, affecting communication dynamics.

Disbursement

Any payment of funds made by the physician’s office for goods and services.

Accounts Receivable

The outstanding invoices a company has or the money the company is owed from its clients.

Voucher

A document or code that entitles the holder to a discount or that may be exchanged for goods or services.