Asked by Rachel Dusett on May 28, 2024

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A succession plan should include:

A) procedures for choosing or designating the business's new leadership.
B) legal aspects of any ownership transfer.
C) any financial and estate plans relating to the transfer.
D) All of the options listed
E) None of the options listed

Succession Plan

Describes how the leadership transition and related financial matters will be handled.

Ownership Transfer

The process by which the legal rights and responsibilities of owning an asset or property are transferred from one party to another.

Financial Plans

Strategic documents that outline an entity's current financial situation and long-term monetary goals, including strategies for achieving them.

  • Understand the approach and necessity of effectuating succession planning in familial business settings.
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Vanessa Lahee

Jun 01, 2024

Final Answer :
D
Explanation :
A succession plan is comprehensive and should include procedures for choosing new leadership, legal aspects of ownership transfer, and financial and estate plans related to the transfer.