urgent please

From an earnings perspective, a small enterprise fails: a. If it disposes off with losses to avoid further losses. b. If its return on capital is significantly lower than that obtainable on similar investments. C. If it is deemed legally bankrupt. Bankruptcy is then followed by insolvency liquidation. d. If it ceases operations. According to Churchill & Lewis (1983), the five stages of small business growth outlined are: a. Birth, Growth, maturity, Revival and Decline b. Existence, Growth, Take-off, Maturity and Decline c. Initiation, Development, Growth, Maturity and Decline d. Existence, Survival, Success, Take-off and Resource Maturity When making capital investment decisions, a small firm may end up under-investing because: a. A dominant owner-manager may choose to minimize profit distributions b. Owner-manager may overestimate the true cost of finance especially provided by self, friends and families. Owner-manager wishes to avoid tax on excessive undistributed profits by offsetting this position through accepting a capital project with negative NPV. d. The cost of external financing is high. C