Which of the Following Statements About Entrepreneurs Is a Myth

question 55

Multiple Choice

Which of the following statements about entrepreneurs is a myth?

• A) Talent gained and enhanced by experience is a foundation for entrepreneurial success.
• B) An entrepreneur may not need a college degree at all.
• C) Age alone is not a barrier to entrepreneurship.
• D) Entrepreneurs are gamblers.
• E) Just having money is no guarantee of success; many entrepreneurs start with very little money.

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Definitions:

Notes Payable

Financial obligations represented by formal written agreements to pay specified amounts at determined future dates.

Salaries and Wages Payable

Salaries and wages payable are current liabilities recorded on a company's balance sheet, representing the amount owed to employees for work performed that has not yet been paid.

Taxes Payable

Liabilities owed to government entities, representing taxes due to be paid by individuals or organizations.

Property Plant and Equipment

Long-term tangible assets held for business use and not expected to be converted to cash in the upcoming year.