Bankruptcy is an option for an entrepreneur if the turnaround effort does not succeed quickly enough.

Question

Quizplus · Accepted Answer

Bankruptcy is a legal option for entrepreneurs if their business is unable to pay debts and is in financial distress. It allows for the disposal of assets and the distribution of proceeds to creditors. However, it is usually seen as a last resort and entrepreneurs should try to explore other alternatives before resorting to bankruptcy.

Bankruptcy Is an Option for an Entrepreneur If the Turnaround