In Linux, if the "setuid" bit is set, what happens to the permissions of a file when it is executed by a user?

In Linux, if the "setuid" bit is set, what happens to the permissions of a file when it is executed by a user?

• Gives every user write permissions
• Runs it with the same rights as the file's owner
• Inherits group privileges of the file
• Remains in the memory more time after execution 

EXPLANATION

In addition to the basic file permissions in Linux, there are few special permissions that are available for executable files and directories The "setuid" (set user ID upon execution) Unix access rights flag allow users to run an executable with the permissions of the executable's owner. If the SETGID is set, it inherits the group privileges of the file on execution, not the user privileges.
The setuid flag can pose a security risk if it is assigned to executable programs that are not carefully designed.