Entrepreneurship Is ________

question 47

Multiple Choice

Entrepreneurship is ________.

• A)the process of starting a brand-new enterprise with four employees or less
• B)the process of starting a new organization,generally in response to an opportunity
• C)the process of taking an organization or venture private and away from the public domain
• D)the development of an idea into a feasibility and subsequent business plan up to but not surpassing the actual start of the venture's operations

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Definitions:

Purchases Returns and Allowances

From the buyer’s perspective, returned merchandise or an adjustment for defective merchandise.

Periodic Inventory System

An inventory accounting system where updates are made on a periodic basis rather than continuously.

Condensed Income Statements

Simplified financial statements that present a summary of a company's revenue, expenses, and profitability over a particular period.

Merchandising Companies

Companies that purchase goods in a finished condition and resell them at a profit without further processing.