business failure
Definition
Closure or cessation of business activity that results in a loss to its creditors. Firm that stops working due to lack of sales or profit, or retirement or death of its principal—without leaving any liabilities—is not classified as a failure.
business failure is in the Disaster Planning & Risk Management and Entrepreneurship, Management, & Leadership subjects.
business failure appears in the definitions of the following terms: illiquid, inventory management, winding up, panic and bankruptcy
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