Which of the Following Is True About Entrepreneurs

question 126

Multiple Choice

Which of the following is true about entrepreneurs?

• A)They have the talent required to dream up a new product or find a better way to produce an existing one.
• B)They are rewarded by profits.
• C)They sometimes suffer losses.
• D)They benefit from what's left over after paying other resource suppliers.
• E)All of the answers are correct.

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Definitions:

Intangible Asset

An asset that lacks physical substance but is still identifiable and provides future economic benefit to the owner, such as patents, copyrights, and goodwill.

Business Combination

The process of merging two or more companies into one, through acquisitions, consolidations, or other forms of restructuring.

Specific Criteria

Different or particular standards or requirements that must be met for a certain condition, action, or process to be initiated or considered valid.

Recognition

The formal acknowledgment in accounting that a transaction or event affects the financial statements of a company.