The What Went Wrong Feature in Chapter 9 Focuses on Deever

question 56

Multiple Choice

The What Went Wrong feature in Chapter 9 focuses on Deever, a 2008 startup that helped software developers use cloud-based services to "test" their code in an expedient manner. According to the feature, one of the primary reasons Deever failed was ________.

• A) it lacked a cofounder who loved the business side of running a startup
• B) the cofounders couldn't get along
• C) it didn't build a robust partnership network
• D) it didn't solicit advice from attorneys, bankers or business consultants
• E) it didn't have a Board of Advisors

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Definitions:

Total Assets

The total value of everything a company owns, both current and non-current, as recorded on the balance sheet.

Single-step Statement

A simple form of income statement that calculates net income by subtracting total expenses from total income in one step.

Multiple-step Statement

An income statement that separately reports operating and non-operating activities, making it easier to understand the financial results.

Income Statement

A financial statement that shows a company's revenue and expenses over a specific period, revealing net profit or loss.