Business Faillure

Another name for a business not having enough funds

• Business Loan

• Under capitalization

• Financial Accounting

• liquidation

Which of the following is a type of business failure

• Voluntary Cessation

• Bankruptcy Order

• Partnership

• Realization

When a business is forced to stop trading by creditors

• Bankruptcy

• Liquidation

• Voluntary Cessation

• Involuntary Cessation

Is when a business is declared unable to pay their debts

• Voluntary Administration

• Voluntary Cessation

• Bankruptcy

• Business Closure

The process of converting a business's assets into cash

• Realization

• Bankruptcy order

• Voluntary Administration

• Cessation

Is the process of bringing a business to an end and distributing its assets to claimants.

• Realization

• Liquidation

• Cessation

• Administration

An independent administrator is appointed to operate a business in the hope of trading out of its present financial problems

• Bankruptcy

• Liquidation

• Voluntary Cessation

• Voluntary Administration

When a business fails to prepare a business plan or modify an existing plan.

• Lack of Management Expertise

• Lack of Marketing

• Lack of Asset Management

• Lack of Sufficient Funds

Lack of Management Expertise is evident when the business

• Spends too much money on marketing

• employs too many workers

• Fails to prepare a business plan

• Does not spend enough time in the business

Only businesses who sell products can fail.

• False

• True