Mark had opened a café in his neighborhood. Soon his café became very popular and his revenues started increasing. Steve, the owner of a popular restaurant saw Mark's success and asked him to join the restaurant. The financial incentive Steve offered Mark was more than what he earned at his café, and he would not have to face the daily hassles of managing everything on his own. He decided to shut down his café and join the restaurant. This is an example of:

Question

Quizplus · Accepted Answer

Mark's decision to shut down his café and join the restaurant is an example of discontinuance, which refers to the voluntary closure of a business by the owner due to reasons such as better opportunities or personal reasons. It is not foreclosure, formal failure, or bankruptcy, as those refer to more negative situations where the business is unable to continue operations.

Mark Had Opened a Café in His Neighborhood