The Role of Entrepreneurs in Industrial Production Was

question 36

Multiple Choice

The role of entrepreneurs in industrial production was

• A)superfluous.
• B)financing, organizing, and managing industrial plants.
• C)limited to negotiating between workers and bosses.
• D)providing new inventions to stimulate production.
• E)as innovators.

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Definitions:

Raw Materials Inventory

The total cost of all components and materials stored that are eventually used in the manufacture of a product.

Master Budget

A comprehensive financial planning document that includes all of the organization's financial plans.

Credit Sales

Sales made to customers on credit, allowing them to purchase now and pay later, creating accounts receivable for the company.

Selling Expense

Costs incurred to promote, sell, or distribute a product or service, such as advertising and commission.