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Small Business Management

Business

Quiz 6 :

Taking Over an Existing Business

Quiz 6 :

Taking Over an Existing Business

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Industry-wide ______ ratios are calculated by most trade associations, many commercial banks, and accounting firms.
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Answer:

B

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A business that brings sellers of their businesses together with potential buyers is known as ______.
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C

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Benjamin has recently received a large estate settlement, and he is eager to use the money toward the purchase of a successful business that is already in operation. Which of the following should be discouraged as a source for finding businesses for sale?
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D

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Industry averages for expense ratios comparing expenses to ______ exist for every size and type of business.
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Tabitha is considering the purchase of a seemingly successful retail establishment, but first she would like to gain an understanding of why the business is being sold. With whom should she speak?
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What of these is used to indicate whether sales volume is increasing or decreasing?
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The financial statements can provide access to ______, a very important piece of information for a prospective buyer to use in determining net profit.
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To determine the financial condition of an existing business, it is necessary to compare ______ with ______ to identify where costs can be reduced or more money is needed.
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Within his profession, Alex Wilson serves as an intermediary that brings sellers of businesses together with potential buyers. Alex can best be described as a/an ______.
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When analyzing financial statements, remember that profits can be increased and expenses can be decreased to make the records look better ______.
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Buying an existing business looks appealing to the potential business owner for which of the following reasons?
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Many good business opportunities are never formally advertised. Instead, that information is found through which of the following?
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An advantage in purchasing an existing business is which of the following?
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According to the text, there are ______ thousands of small businesses for sale at any given time.
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A list of liabilities of an existing business would include ______.
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Before any serious discussion of purchasing a business occurs, a/an ______ should be conducted.
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To ensure that all back taxes have been paid, a potential buyer should inspect ______.
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Financial information can be sensitive information. In order to allay the fears of the seller, a potential buyer could ______.
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Family, friends, the newspaper, the Small Business Administration (SBA), a local banker, and real estate brokers may all have information on ______.
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A disadvantage to buying an existing business is which of the following?
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