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Web Quizzes
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1
Selling a company to employees is an example of an exit strategy.
A)True
B)False
2
About 75 percent of family firms successfully make the transition to the third generation.
A)True
B)False
3
Bankruptcy cannot be used as a bargaining chip with creditors to allow the venture to voluntarily reorganize.
A)True
B)False
4
The Bankruptcy Act of 1978 protects debtors from unfair demands by creditors.
A)True
B)False
5
The bankruptcy type that is most common is Chapter 11 bankruptcy.
A)True
B)False
6
Early signs of bankruptcy are most often:
A)unavoidable.
B)apparent to the entrepreneur.
C)occur in isolated instances.
D)interrelated.
7
Among firms that file for Chapter 11 about ________ percent make it through the process.
A)5-10
B)20-25
C)50-60
D)80-85
8
The most common bankruptcies are:
A)corporate bankruptcies.
B)partnership bankruptcies.
C)S corporation bankruptcies.
D)individual bankruptcies.
9
According to the SBA, the failure rate of new businesses within the first few years is:
A)less than 25%.
B)50%.
C)about 70%.
D)none of the above.
10
A two to three year plan to sell a business to employees is:
A)an ESOP.
B)an acquisition.
C)succession.
D)the most popular method of exit.





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