Entrepreneurs Mostly Focus on a Single Number: Profits

question 20

Multiple Choice

Entrepreneurs mostly focus on a single number: profits. As a result, which of the following statements tends to be true about their firms?

• A)The firms tend to do well in some aspects of their operations, but other aspects are neglected.
• B)The firms cannot achieve a very high overall efficiency.
• C)The firms pay close attention to every aspect of their operations.
• D)The firms' suppliers and customers are often left behind.

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Definitions:

Bailee

A person or entity that has temporary custody or control of another person's property under a bailment agreement.

Liable

Being legally responsible or obligated, especially in the context of paying damages or fulfilling contractual agreements.

Joint Tenancy

A form of co-ownership where property is owned by two or more parties with the right of survivorship, meaning upon the death of one owner, the property automatically passes to the surviving owner(s).

Tenancy In Common

A form of co-ownership where each owner has an undivided interest in the property, and upon death, their interest passes to their heirs or as directed by their will.