Chapter 36 - Business Failure Flashcards
1
Q
Administration
A
A failing business appoints a specialist to rescue the business or wind it up
2
Q
External factors
A
Factors beyond the control of businesses cause it to collapse
3
Q
Internal factors
A
Factors that businesses are able to control cause it to collapse
4
Q
Overtrading
A
The situation where a business does not have enough cash to support its production and sales, usually because it is growing too fast
