In the Event That a Large Company Has to Downsize

question 114

Multiple Choice

In the event that a large company has to downsize, the middle-aged workers who are laid off find it difficult to find new jobs. When such workers decide to start their own businesses, they:

• A) become welfare recipients.
• B) are called necessity entrepreneurs.
• C) become post-retirement workers.
• D) are called baby boomers.

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Definitions:

Security Interest

A security interest is a legal right granted by a borrower to a creditor over the borrower's property or assets as a security for a loan, ensuring repayment of the debt.

Present Rights

Rights that an individual or entity currently holds and can exercise immediately, as opposed to future rights.

Depreciation

The process by which a fixed asset's value decreases over time due to use, wear and tear, or obsolescence.

Defaulted

refers to the failure to meet the legal obligations of a loan, such as not making the agreed-upon payments.