Which of the Following Was NOT Identified in the Textbook

question 47

Multiple Choice

Which of the following was NOT identified in the textbook as one of the common traits and characteristics of entrepreneurs?

• A) Lengthy attention span
• B) Self-starter
• C) Tolerant of ambiguity
• D) Tenacious
• E) Pessimistic disposition

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Definitions:

Debits and Credits

Fundamental elements of double-entry bookkeeping, where debits represent increases in assets or expenses and credits signify increases in liabilities, equity, or income.

Transaction

An agreement or exchange between two or more parties that is recorded and has a financial impact on the business.

T-Account

A graphical representation of a ledger account, showing two sides for debits and credits, used in accounting.

Ledger Account

A record that keeps track of all the financial transactions pertaining to a specific account, forming part of the general ledger.