Asked by Naoise Kiernan on Jun 03, 2024
Verified
Which of the following is NOT one of the defining characteristics of small businesses?
A) A business with 100 or fewer employees
B) A business that makes an annual profit of less than $1
C) A business that does not dominate its industry
D) A business that is independently owned
E) A business that is independently operated
Defining Characteristics
The unique attributes or qualities that clearly distinguish a person, object, concept, or phenomenon from others within its category or domain.
Small Businesses
Independently owned and operated companies with limited revenue and number of employees, serving local markets.
- Understand the defining characteristics of small businesses and their importance in the economy.
Verified Answer
FP
Francisco PuentesJun 05, 2024
Final Answer :
B
Explanation :
The defining characteristics of small businesses typically include having a limited number of employees, not dominating the industry, and being independently owned and operated. Making an annual profit of less than $1 is not a standard criterion for defining small businesses.
Learning Objectives
- Understand the defining characteristics of small businesses and their importance in the economy.
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