A document that states the principles intended to guide a family firm through times of crisis and change, including the succession process, is called the
A) business plan.
B) articles of incorporation.
C) family business constitution.
D) corporate by-laws.

Question

Quizplus · Accepted Answer

A family business constitution outlines principles for the family firm, including guiding principles during times of crisis and change, as well as the processes for succession. Business plans, articles of incorporation, and corporate by-laws are important documents for a family firm, but they do not specifically address the unique needs of a family business during times of crisis and change.

A Document That States the Principles Intended to Guide a Family