Which of the Following Is the Correct Sequence for the Four

question 30

Multiple Choice

Which of the following is the correct sequence for the four steps in the entrepreneurial process?

• A) deciding to become an entrepreneur, developing successful business ideas, moving from an idea to an entrepreneurial firm, managing the growing entrepreneurial firm
• B) developing successful business ideas, deciding to become an entrepreneur, moving from an idea to an entrepreneurial firm, managing and growing the entrepreneurial firm
• C) developing successful business ideas, moving from an idea to an entrepreneurial firm, deciding to become an entrepreneur, managing and growing the entrepreneurial firm
• D) deciding to become an entrepreneur, moving from an idea to an entrepreneurial firm, developing successful business ideas, managing and growing the entrepreneurial firm
• E) managing and growing the entrepreneurial firm, developing successful business ideas, deciding to become an entrepreneur, moving from an idea to an entrepreneurial firm

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Definitions:

Direct Labour Cost

The wages and benefits paid to workers who are directly involved in the manufacturing process.

Manufacturing Overhead Applied

The allocation of overhead costs to the goods produced, based on a predetermined overhead rate.

Job-order Costing

A cost accounting system that accumulates manufacturing costs separately for each job.

Direct Labour Cost

The wages and benefits paid to employees who are directly involved in the production of goods or services.