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If a business has a lien against any of its assets at the time of the sale, the buyer must assume them and is financially responsible for them.

Experts estimate that ________ percent of companies worldwide engage in some type of socially responsible activity.

A principal advantage of buying an existing business is the purchaser’s ability to rely on the previous owner’s experience.

The reason an entrepreneur should conduct a self-audit of her/his skills, abilities, and interests is to help focus on those businesses that will best “fit.”

During a brainstorming session, company rank and department affiliation are irrelevant.

If an entrepreneur has a good enough product or service to sell, a business plan is not really necessary since the product or service will sell itself.

Maria Sanchez is the owner of the Main Street Café and a new restaurant opens a few blocks away. From Maria’s perspective, this new restaurant constitutes a(n) ________.

The ideal size of a focus group is 20-25.

One hallmark of successful entrepreneurs is the ability to ________.

With an existing business, the new owner can depend on employees to help him make money while he is learning the business.