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:

  1. A.

    Both Statement I and Statement II are correct

  2. B.

    Both Statement I and Statement II are incorrect

  3. C.

    Statement I is correct but Statement II is in correct

  4. D.

    Statement I is incorrect but Statement II is correct

Answer

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.

Related Innovation and Entrepreneurship questions

Practise this under exam conditions

Sign in to solve it with a live timer, the on-screen CAT calculator, and streak and accuracy tracking across every question you attempt.

Solve in the workspace