Statements on Family Business and Startups
CMAT 2023 · Innovation & Entrepreneurship · Medium · Innovation and Entrepreneurship
Given below are two statements:. Statement I : Family businesses are always interested to handover the charge of their business to next generation. Statement II: Most of the start-up originate from the established family business.
In the light of the above statements, choose the most appropriate answer from the options given below:
- A.
Both Statement I and Statement II are correct
- B.
Both Statement I and Statement II are incorrect
- C.
Statement I is correct but Statement II is in correct
- D.
Statement I is incorrect but Statement II is correct
C
Explanation
Statement I is correct as family businesses generally aim to preserve legacy across generations. Statement II is incorrect as most startups originate independently.
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