Which of the Following Statements Is Incorrect in Regard to Entrepreneurial

question 60

Multiple Choice

Which of the following statements is incorrect in regard to entrepreneurial alertness?

• A) The research findings on entrepreneurial alertness are conclusive.
• B) Alertness is largely a learned skill.
• C) People who have more knowledge of an area tend to be more alert to opportunities in that area than others.
• D) The term "entrepreneurial alertness" is often associated with a "sixth sense" that seems to allows some people to see opportunities that others miss.
• E) Entrepreneurial alertness is defined as the ability to notice things without engaging in deliberate search.

---

Definitions:

Actual Labor-Hours

Actual labor-hours represent the real number of labor hours worked by employees, as opposed to planned or estimated hours, often used in productivity and costing analyses.

Direct Material Standards

The anticipated cost and quantity of materials required for the production of goods or services.

Actual Cost

Actual cost refers to the exact amount of expenses incurred for producing a product or performing a service, contrasted with estimated or budgeted costs.

Standard Cost System

An accounting system that uses predetermined costs for product costing and decision making, facilitating budgeting and variance analysis.