Jeremy Operates His Own Small Business, but He Doesn't Want

question 333

True/False

Jeremy operates his own small business, but he doesn't want to be bothered with accounting information. He tells his friends, "All I need accounting for is to prepare my income tax return for my business. I'll hire someone to do that for me." Jeremy's attitude would be disastrous if he managed a large firm, but is a reasonable view for a small business owner.

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Definitions:

Experiential Learning

A method of learning through direct experience, reflection, and application.

Internship

A period of work experience offered by an organization for a limited period of time, often used by students to gain professional skills.

Service-Learning

An educational approach that combines learning objectives with community service in order to provide a pragmatic, progressive learning experience while meeting societal needs.

Experiential Learning

A learning methodology based on students being directly involved in a learning experience rather than being recipients of passively received information.