Edmond Is Negotiating to Purchase an Existing Business

question 63

Multiple Choice

Edmond is negotiating to purchase an existing business. One provision he should write into the sale contract is

• A) access to the seller's customer list.
• B) disclosure of the business's revenues for the last year.
• C) a statement of the royalties payable to the seller.
• D) a noncompete agreement.

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Definitions:

Job Supervision

The act of overseeing and directing the work and tasks of employees to ensure organizational goals are achieved.

Job Specification

A detailed description of the duties, responsibilities, required qualifications, and reporting relationships of a particular job.

Job Description

A formal account of an employee's responsibilities, duties, and the scope of a particular role.

Job Specifications

A detailed description of the qualifications, skills, and experience required to perform a job.