Richard Left a Secure Job with the Government to Start

question 24

Multiple Choice

Richard left a secure job with the government to start a manufacturing company even though he has a young family to take care.As a successful entrepreneur what level of risk does Richard accept?

• A) no risk
• B) mild risk
• C) moderate risk
• D) extreme risk

---

Definitions:

Sole Proprietorships

A business structure where a single individual owns and operates the business, taking full responsibility for its debts and obligations.

Business Registration

The process of officially recording a new business with the relevant governmental authority.

Express or Implied Agreement

A mutual understanding between parties to a contract where terms are specifically stated (express) or suggested by actions or circumstances (implied).

Partnership Capital

Funds contributed by partners to a partnership for the purpose of financing its operations, shared according to the partnership agreement.