Entrepreneurs Should Think Very Carefully About Their Motives for Exiting

question 59

True/False

Entrepreneurs should think very carefully about their motives for exiting a business and what they plan to do after the harvest.

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Definitions:

Journal Entry

A record in accounting that documents a transaction in a company's ledger, thereby affecting at least two accounts to keep the accounting equation in balance.

Corning Company

A technology company known for its specialty glasses, ceramics, and related materials and technologies, including the development of Gorilla Glass.

Chart of Accounts

A systematic listing of all ledger account titles and numbers used by a company, showing the classification and arrangement of accounts.

Posting Reference

A notation that guides one from a journal entry to its corresponding ledger account, facilitating audit trails.