All of the Following Are Examples of Disadvantages Associated with the Ownership

question 69

Multiple Choice

All of the following are examples of disadvantages associated with the ownership of a small business EXCEPT:

• A)burdensome government regulations
• B)fund-raising difficulty
• C)being your own boss
• D)extreme personal commitment
• E)limited management skill

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Definitions:

Accounts Receivable

An asset that indicates amounts owed by customers.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including the cost of materials and labor.

Payroll Payable

A liability account that represents the amount of money a company owes to its employees for wages earned but not yet paid.

Work-in-Process Inventory

Work-in-process inventory includes partially finished goods that are still in the production process at the end of an accounting period.