Which of the Following Is True About the Differences Between

question 77

Multiple Choice

Which of the following is true about the differences between commercial and social entrepreneurship?

• A)The purpose of commercial entrepreneurship is to create value for the public.
• B)Social entrepreneurs are not required to consider issues surrounding sales and costs since they have enough funding from angel investors.
• C)Most commercial entrepreneurs rely on donations as sources of funding.
• D)Commercial entrepreneurs focus on less quantitative performance measures that are not related to money.
• E)Although profits remain somewhat important,social value dominates the goal structure of social entrepreneurship.

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Definitions:

Process Cost System

An accounting system used to accumulate costs in industries where a homogeneous product is produced on a continuous basis.

Work in Process

Inventory category for items that are currently being produced or in the process of being transformed into finished goods.

Weighted-Average Method

A cost accounting technique that calculates inventory and cost of goods sold based on the average cost of all units available.

Conversion Costs

The costs incurred to convert raw materials into finished products, which typically include labor and manufacturing overhead expenses.