Match the term to its definition.
-The practice of employing relatives
A)co-preneurs
B)cousin consortium
C)family
D)family business
E)family business constitution
F)family council
G)family retreat
H)nepotism
I)organizational culture
J)owner-managed business
K)sibling partnership
L)socioeconomic wealth
M)transfer of ownership

Question

Quizplus · Accepted Answer

Nepotism is the practice of employing relatives.

Answer: D
 Family business refers to a business in which the ownership and management are controlled by members of the same family.

Answer: E
 A family business constitution is a document that outlines the rules and procedures for the management and ownership of a family business.

Answer: F
 A family council is a group of family members who are responsible for making decisions about the management and ownership of a family business.

Answer: G
 A family retreat is a meeting or gathering of family members to discuss the management and ownership of a family business.

Answer: J
 Owner-managed business refers to a business in which the owner is also the manager.

Answer: K
 A sibling partnership refers to a business partnership between siblings.

Answer: M
 Transfer of ownership refers to the process of transferring ownership of a business from one owner to another.

The other terms do not correspond with these definitions.

Match the Term to Its Definition