As Many as _____ Per Cent of New Businesses Fail

question 23

Multiple Choice

As many as _____ per cent of new businesses fail in their first three years of operation?

• A) 50
• B) 30
• C) 40
• D) 20
• E) 60

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Definitions:

United Nations Convention

An international treaty or agreement formulated under the auspices of the United Nations, aimed at regulating issues of global concern.

Case Law

The collection of legal interpretations made by judges. They are considered to be law unless otherwise revoked by a statutory law. Also known as common law.

Quasi-contract

An obligation imposed by law to prevent unjust enrichment, where there is no actual contract between the parties.

Fair Market Value

Refers to the price at which an asset would trade in a competitive auction setting, reflecting its value in the eyes of both buyer and seller.