Which of the Following Statements About Entrepreneurs Is False

question 35

Multiple Choice

Which of the following statements about entrepreneurs is false?

• A)They burn with the competitive desire to excel.
• B)They see the cup half full rather than half empty.
• C)They do not use failure as a tool for learning.
• D)They are achievers.

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Definitions:

Net Operating Income

This is the total profit of a business after operating expenses are subtracted from gross revenue but before taxes and interest expenses are deducted.

Absorption Costing

A method of product costing that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed overhead - in the cost of a product.

Product Costs

Costs that are considered to be directly associated with the production of goods or services, including direct materials, direct labor, and manufacturing overhead.

Fixed Production Costs

Costs that do not vary with the level of production, such as rent for manufacturing facilities.