Lyell Owns His Own Small Business, but He Doesn't Want

question 34

True/False

Lyell owns his own small business, but he doesn't want to be bothered with accounting information. He tells his friends, "All I need accounting for is to prepare my income tax return for my business. I'll hire someone to do that for me." Lyell's attitude would be disastrous if he managed a large firm, but it is a reasonable view for a small business owner.

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Definitions:

Adapt

To adjust or change one's behavior or thinking in response to new or altered circumstances.

Process

A series of actions or steps undertaken to achieve a particular end.

Same-Sex Couples

Romantic partnerships between two individuals of the same sex, legally recognized in many countries around the world.

Adjustment

The act of adjusting or getting used to new circumstances, settings, or surroundings.