How Does a Spontaneous Statement Differ from a Contemporaneous Declaration

question 6

Multiple Choice

How does a spontaneous statement differ from a contemporaneous declaration

• A)Contemporaneous declarations can be made in response to questions but spontaneous statements can not
• B)Spontaneous statements must be made orally but contemporaneous declarations can be either oral or written
• C)Contemporaneous declarations can be made with law enforcement officers present but spontaneous statements can not
• D)Spontaneous statements are admissible at trial but contemporaneous declarations are not

Understand the concept and importance of due diligence in the process of buying a business.

Recognize the role of industry averages in evaluating a business.

Identify the advantages and disadvantages of buying an existing business, including supplier relationships and customer familiarity.

Acknowledge the importance of formalizing verbal agreements in writing when purchasing a business.

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Definitions:

Adventure

An undertaking involving risk and excitement, often seen as an opportunity for physical, psychological, or spiritual growth.

Novel Experiences

New and previously unencountered situations or events that can stimulate learning and adaptation.

Younger

Referring to a person or thing with less age or time of existence compared to another.

High Sensation Seekers

Individuals who seek new and intense experiences and sensations, often demonstrating a willingness to take physical, social, and financial risks for the sake of such experiences.