Businesses That Are Started in Response to Needs Within a Community

question 108

True/False

Businesses that are started in response to needs within a community are known as social enterprises/ventures and may be not-for-profit entities.

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Definitions:

Purchase Accounting

An accounting method used in mergers and acquisitions to consolidate the financial statements of the buying and acquired companies.

Fair Market Value

An estimate of the market value of an asset, based on what a knowledgeable, willing, and unpressured buyer would likely pay to a knowledgeable, willing, and unpressured seller in the market.

Assets

Resources with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit.