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

Question

Quizplus · Accepted Answer

Family-owned businesses 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. This definition does not specifically apply to sole proprietorships, partnerships, or corporations, as those can be owned and operated by individuals or groups without any family relation.

Which of the Following Types of Business Are Characterized by Two