The Situation Audit for a Bagel Shop Might Include an Assessment

question 57

Multiple Choice

The situation audit for a bagel shop might include an assessment of:

• A) how changes in zoning and licensing laws will affect its operation
• B) how membership in a local coffee club could affect its operation
• C) the type of merchandise carried by the competition
• D) the location of other retailers that sell bagels
• E) all of these

---

Definitions:

Denial

The refusal to admit the truth or reality of something, often as a defense mechanism.

Perfection

The series of legal steps a secured party takes to protect its right in collateral from other creditors that want to have their debts returned through the same collateral.

Possession

The act of having or holding property in one's control; this can range from ownership of land to possession of items or goods.

Security Agreement

An agreement in which a debtor gives a secured interest to a secured party.