John and his brother Jack started a produce farm 20 years ago and are thinking about retirement.Over time,their children have worked at the farm and so the cousins have started talking about taking over management.At present,this produce farm is an example of ____.

Question

Quizplus · Accepted Answer

The fact that John and Jack started the farm 20 years ago and have been managing it themselves suggests that it is an owner-managed business. The involvement of their children and the possibility of passing ownership to the next generation does not change this fact.

John and His Brother Jack Started a Produce Farm 20