When Screening New Business Ideas, the Entrepreneur Need Not Focus

question 11

True/False

When screening new business ideas, the entrepreneur need not focus on the size of the targeted market.

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Definitions:

Service

A non-tangible good provided to consumers or businesses, such as consulting, banking, or cleaning, which can't be stored or physically possessed.

Fee

A charge for services provided or the right to participate in an activity or access certain benefits.

Unearned Rent Revenue

Liability account that reflects payments received for rent before the rental period has occurred; it is recognized as revenue over time as the service is provided.

Rent Expense

The cost incurred by a business to utilize property as an office, manufacturing space, storage, or retail location.