Exam 6: Taking Over An Existing Business

The value of a business's intangible assets is easy to determine.

When the buyer and the seller have agreed on the terms of the sale,the closing can be handled by

In Scenario 6-2 above,when considering how much she should pay,Sally Jo should consider all but which of the following?

The amount paid for goodwill should be small enough to be recovered with new profits in a reasonably short time period.

Industry averages exist comparing expenses to sales for every size and type of business.

Family,friends,the newspaper,the Small Business Administration (SBA),a local banker,and real estate brokers may all have information on

Financial information can be sensitive information.In order to allay the fears of the seller,a potential buyer could

Buying an existing business looks appealing to the potential business owner for which of the following reasons?

List at least three guidelines that should be followed in a family business.

All but which of the following policies can help prevent problems in employment policies when discussing family businesses?

In Scenario 6-1 above,which of the following would have been a good source of information on current businesses that are for sale that is often overlooked?

Before serious bargaining can begin,it is necessary to determine the value of several key physical assets.List at least three of these assets.

The prospective buyer should determine a price for the business by adding the value of tangible and intangible assets with the ____ potential.

A settlement attorney during a closing represents

Any of the following may be included as an owner benefit of a small business except

As seen in the Entre-Perspectives,what year was the oldest family business in the United States founded?

Of all the tangible assets of a business,____ and ____ should be examined most closely because they may be worth less than the seller is asking.

Inventory,equipment,and building are examples of what kinds of assets?

Which of the following by itself could be a reason a business owner wants to sell a business?

Buying an existing business is becoming a more popular way to own a small business.