When Starting a Small Business, It's Important to Remember

question 124

Multiple Choice

When starting a small business, it's important to remember

• A) an affinity for taking large amounts of risk is the critical factor in achieving small business success.
• B) doing things differently from previous entrepreneurs is the real key to success.
• C) learning from others and gaining relevant business experience improves the odds for success.
• D) to avoid burnout, limit the number of hours you work each week as you adapt to the rigors of self-employment.

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Definitions:

Bailment Relationship

A legal relationship in which physical possession of personal property is transferred from one party to another for a specific purpose, while ownership remains with the original party.

Negligent

Failure to take proper care in doing something, leading to damage or injury to others.

Lawful Action

Actions or behaviors that are in accordance with legal requirements and legislations.