Which of the Following Is Correct Regarding Opportunities and Ideas

question 37

Multiple Choice

Which of the following is correct regarding opportunities and ideas?

• A) An opportunity and an idea are essentially the same thing.
• B) An idea almost always meets the criteria of an opportunity.
• C) An opportunity is a thought, an impression, or a notion.
• D) An idea is a favorable set of circumstances that creates a need for a new product, service, or business.
• E) It's important to discern whether a particular idea meets the tests of an opportunity.

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Definitions:

Sale of Goods

A transaction involving the transfer of ownership of tangible personal property from a seller to a buyer for a price.

Tangible Personal Property

Physical items that can be owned and have value, such as furniture, jewelry, and vehicles.

Consideration

Something of value exchanged between parties in a contract that induces them to enter into the agreement.

Simple Contract

An agreement made between parties that does not necessarily have to be in writing but is binding and enforceable by law.