Asked by

Mazon White
on Nov 09, 2024

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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.
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Nestor MedinaNov 15, 2024
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