QUESTION Sole proprietorships have the easiest time obtaining loans from banks because they need less start-up capital than businesses with multiple owners. Indicate whether the statement is true or false ANSWER FALSE
Date: September 3rd, 2020
QUESTION On a balance sheet, the sum of total liabilities plus owners’ equity must equal what total? What will be an ideal response? ANSWER The sum of total liabilities plus owners’ equity must equal total assets. In this way the balance sheet represents the fundamental accounting equation.
Date: September 3rd, 2020
QUESTION List people or organizations who might make use of a balance sheet. What will be an ideal response? ANSWER Businesses use financial statements, including the balance sheet, to get a complete picture of how well a business is performing. Company leaders, investors, and employees can also use a balance sheet to try to […]
Date: September 3rd, 2020
QUESTION A business plan states an entrepreneur’s goals and the plan to achieve them. Indicate whether the statement is true or false ANSWER TRUE
Date: September 3rd, 2020
QUESTION There are ________ Is that are attributed to great leaders. a. three b. four c. five d. six ANSWER c
Date: September 3rd, 2020
QUESTION All of the following qualities of great leaders EXCEPT ________. a. intelligence b. innovation c. inspiration d. initiative ANSWER a
Date: September 3rd, 2020
QUESTION A business plan should not list the names of the management team to avoid corporate raiding of staff. Indicate whether the statement is true or false ANSWER FALSE
Date: September 3rd, 2020
QUESTION Comment on the suggestion that businesses should avoid all risks. What will be an ideal response? ANSWER This is not possible. Almost everything in business involves some kind of risk. Risk, furthermore, often comes with rewards. The goal of a business is to seek opportunities, assess threats and risks, and enjoy rewards.
Date: September 3rd, 2020
QUESTION Entrepreneurs use SWOT analyses to find competitive advantages. Indicate whether the statement is true or false ANSWER TRUE
Date: September 3rd, 2020
QUESTION The economic system that best describes the United States is ________. a. capitalism b. communism c. mixed market d. socialism ANSWER c
Date: September 3rd, 2020
