One Way to Get into Business Is to Buy an Existing

question 60

Multiple Choice

One way to get into business is to buy an existing company. The value of the business used to determine a fair purchase price is based on

• A) the prospects for business competition.
• B) the current owner's retirement plan.
• C) the amount of government contracts the company has.
• D) the value of what the business owns, what it earns, and what makes it unique.

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Definitions:

Recognizance

A legal obligation where an individual promises to do something, such as appear in court, without posting bail.

Bail

The amount of money or conditions set by the court to ensure that an individual accused of a crime will appear for further criminal proceedings. If the accused person provides bail, whether in cash or by means of a bail bond, then the person is released from jail.

Police Log

A public record maintained by law enforcement agencies detailing daily activities, incidents, and responses.

Booking

The process of recording an individual's entry into the detention or jail system following an arrest.