Which of the Following Is Not One of the Chief

question 48

Multiple Choice

Which of the following is not one of the chief characteristics of an entrepreneur?

• A)personal initiative
• B)ability to consolidate resources
• C)risk taking
• D)desire for control of people

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Definitions:

Repair and Maintenance

Expenses for fixing and maintaining assets to keep them in good working condition, often deductible for tax purposes.

Tax Court's Method

Procedures and legal principles used by the United States Tax Court to resolve disputes between taxpayers and the IRS.

IRS Method

Specific procedures or guidelines established by the Internal Revenue Service for filing taxes, calculating depreciation, or determining fair market value, among others.

Personal Use

The use of a property or asset for individual needs or enjoyment, as opposed to business or income-producing purposes.