Question

When Betty quits, what notice must The Great Retail Store provide to its creditors?

1) The Great Retail Store can send a notice to all businesses in Betty's area.
2) The Great Retail Store should place a classified advertisement notice in a newspaper of general circulation.
3) The Great Retail Store should send an actual notice to parties Betty has done credit business with and place an advertised notice in a newspaper of general circulation to the rest of the public.
4) The Great Retail Store is not required to provide a notice to anyone.

Answer 1

The Great Retail Store should send an actual notice to parties Betty has done credit business with and place an advertised notice in a newspaper of general circulation to the rest of the public.

option 3 is correct.

Step-by-step explanation:

The Great Retail Store should send an actual notice to parties Betty has done credit business with and place an advertised notice in a newspaper of general circulation to the rest of the public.

This is the correct option. When Betty quits, The Great Retail Store should notify the creditors she has done credit business with by sending an actual notice. This ensures that the creditors are informed of the change and can take appropriate action. Additionally, The Great Retail Store should place an advertised notice in a newspaper of general circulation to inform the rest of the public about Betty's departure. This helps maintain transparency and ensures that relevant stakeholders are aware of the situation.