Franz and Arlene Had an Idea for a Different Type

question 13

Multiple Choice

Franz and Arlene had an idea for a different type of ice cream. They struggled to open their own small business, and later, to expand production and distribution. Their products are distributed nationwide and their sales continue to increase. Franz and Arlene are examples of ______.

• A) classic entrepreneurs
• B) serial entrepreneurs
• C) social entrepreneurs
• D) change agents

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Definitions:

Standard of Care

The level of attention, caution, and prudence reasonably expected of a professional or individual in a given situation.

Subsequent Services

Services provided after an initial service, often as a follow-up or to maintain the initial service's effect.

Third Parties

Individuals or entities that are not directly involved in a legal agreement or contract but may be affected by it or have interests in its outcomes.

Fiduciary Duty

A legal obligation of one party to act in the best interest of another when managing assets or making decisions on their behalf.