Multiple Choice
Which of the following statements regarding family-owned businesses is true?
A) Only a small percentage of family-owned businesses survive into the second or third generation.
B) Family-owned companies must submit a written agreement to the state in which it organizes.
C) All family-owned companies must be closed corporations.
D) Family-owned companies are an example of a not-for-profit corporation.
Correct Answer:
Verified
Correct Answer:
Verified
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