Asked by
Mazon White
on Nov 09, 2024Verified
Which of the following types of business are characterized by two or more members of the same family who control or are directly involved in and own a majority of the business?
A) sole proprietorships
B) partnerships
C) corporations
D) family-owned businesses
Family-owned Businesses
Enterprises that are managed, operated, and primarily owned by one or more family members.
Sole Proprietorships
A form of business ownership with a single owner who manages the company and is responsible for all business debts.
Partnerships
Legal arrangements in which two or more parties agree to operate a business together, sharing its profits and liabilities.
- Acknowledge the unique factors and considerations inherent in businesses owned by families.
Verified Answer
NM
Learning Objectives
- Acknowledge the unique factors and considerations inherent in businesses owned by families.