Which of the following is true of the risk involved in buying an existing business facing bankruptcy?
A. Customers usually boycott the new owner due to their loyalty to the previous owner.
B. It requires certain legal procedures and court appeals to layoff the existing pool of employees under any conditions.
C. The creditors of the previous owner ask for personal guarantee from a potential buyer and place his or her personal assets at risk.
D. It takes special knowledge and skills to conduct an effective turnaround.
Answer: D
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