1. A small business owner who wants to pass the

1. A small business owner who wants to pass the business to other family members after retirement or death should prepare a plan.
(a) retirement 

(b) succession
(c) partnership 

(d) liquidation

2. A common reason new small businesses often fail is.
(a) the owner lacks experience and business skills
(b) there is too much government regulation
(c) the owner tightly controls money and finances
(d) the business grows too slowly

3. A pressing problem faced by a small business in the birth or start-up stage is.
(a) gaining acceptance in the marketplace
(b) finding partners for expansion
(c) preparing the initial public offering
(d) getting management professional skills

4. A venture capitalist that receives an ownership share in return for investing in a new business is providing financing.
(a) debt 

(b) equity
(c) limited 

(d) corporate


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