Many Have Shown How Entrepreneurs Are Dependent on Institutions

question 13

Multiple Choice

Many have shown how entrepreneurs are dependent on institutions. What do institutions signify in this context?

• A) the authorities and public organizations which impact entrepreneurship
• B) the rules of the game which society expresses in the form of systems of rewards, conventions, laws, traditions and values
• C) supporting organizations or institutions which assist entrepreneurs in the startup phase
• D) theories pertaining to entrepreneurship and business ownership

---

Definitions:

Financial Accounting

The field of accounting that focuses on providing information to external users to make informed economic decisions.

Productive

Relating to the efficiency or rate at which goods or services are produced, often measured in terms of output per time period.

Profit

The financial benefit realized when income earned is greater than the expenses, taxes, and costs incurred in generating that income.