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

question 103

True/False

Jeremy operates his own small business,but doesn't want to be bothered with dealing 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:

Concrete Thinking

Involves focusing on the physical world and the direct experience, rather than abstract or hypothetical concepts.

Industry

The economic activity concerned with the processing of raw materials and manufacture of goods in factories.

Great Difficulty

A situation that is extremely challenging or hard to overcome.

Empathy

The capacity to grasp and empathize with someone else's emotions as if you are in their position.