Which of the Following Scenarios Would Be Characteristic of an Entrepreneur

question 63

Multiple Choice

Which of the following scenarios would be characteristic of an entrepreneur?

• A) Rachel implemented a new and more efficient way to produce pottery.
• B) Mary imitated a new, more efficient method of producing pottery.
• C) Alissa scaled back the production of pottery because it wasn't cost effective.
• D) Ursula used a proven marketing method to advertise her pottery.

---

Definitions:

Inventory Cost

The total cost associated with acquiring, storing, and preparing goods for sale, including purchase price, storage, and handling costs.

Direct Method

A way of preparing the cash flow statement where actual cash flows from operating activities are listed directly.

Periodic Inventory System

An accounting method where inventory is physically counted and valued at specific intervals, typically at the end of an accounting period.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated before the next period begins.