A few of the following can be considered major factors in failure of small businesses:
-Lack of financial planning: when a business is born it needs to critically plan out the first few years of running. Small business often fail to plan out for the future and have less working capital at hand.
-Lack of expertise: small business cannot afford specialist managers and this may be a reason for failure
-no investment in marketing and research can also be a reason.
The lower control limit is a limit of the quality control characteristics that describe the common cause of variations form the natural control process, that horizontal lines that are drawn in the distance of plus and minus 3. Found usually in the six sigma model of the quality deviation.
Answer: The journal entry a company uses to record the issuance of a note for the purpose of converting an existing account payable would be debit Accounts Payable; credit Notes Payable.
