A Disadvantage to Buying an Existing Business Is Which of the Following

question 34

Multiple Choice

A disadvantage to buying an existing business is which of the following?

• A) Image is difficult to change.
• B) Customers are familiar with the location.
• C) The employees are experienced.
• D) Inventory and equipment is in place.

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Definitions:

General Sales Tax

A tax imposed on sales of goods and services, generally calculated as a percentage of the selling price and collected at the point of sale.

Tax Structure

The system or arrangement of taxes levied by a government, including rates, bases, and the rules governing tax liabilities.

Excise Tax

A specific tax levied on certain goods, services, or transactions, often with the aim of reducing consumption or generating revenue.

Elastic Demand

A situation where the demand for a product changes significantly when its price changes.