Slow and erratic sales, constant cash outflow and lack of established customer base is characteristic of which stage of the business life cycle?

The business may be in a steady state, renewal or decline of the business life cycle.

The owners must decide whether to reignite growth, sell or close the business during this stage.

Some growth may still occur but not at the same rate as previously

Challenges include new competitors, not getting too comfortable in the market and giving control over to reliable staff.

The correct order of the business life cycle is

Sales level off, market for product is saturated, focus on remaining competitive is characteristic of which stage of the business life cycle?

Falling sales and loss of market share is characteristic of which stage of the business life cycle?

A strategy to meet the cash flow challenges at the Growth stage could include developing an effective credit policy

A strategy to meet the cash flow challenges at the Establishment stage could include accumulating adequate savings

Occurs when the owner is forced to cease trading by the creditors (those owed money) of the business

The form of business cessation for sole traders and partnerships is

The equivalent of bankruptcy for a company is

This occurs when an independent administrator is appointed to operate the business in the hope of trading out of the present financial problems

When a company is unable to pay its debts as and when they fall due is being

Lack of sufficient money

Two main causes of business failure are lack of management expertise and lack of sufficient funds

Which of the following is NOT a factor contributing to business decline?

Which of the following is NOT a contributing factor to business decline?