Richard Worked as a Teacher for Several Years Before Starting

question 111

Multiple Choice

Richard worked as a teacher for several years before starting an educational games company. He has a clear vision of the result he is working to get. Moreover, he is aware of his strengths and weaknesses, and always sets realistic goals. In this case, which of the following characteristics of successful entrepreneurs does Richard possess?

• A)Leadership
• B)Risk tolerance
• C)Opportunity obsession
• D)Self-reliance and ability to adapt
• E)Motivation to excel

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Definitions:

Accrual-based Income

An accounting method that records revenues and expenses when they are earned or incurred, regardless of when cash transactions occur.

Domestic Corporations

Corporations that are registered and operate within the country of incorporation, adhering to its laws and taxation.

Excess Fair Value

The amount by which the fair value of an asset exceeds its carrying value on the balance sheet, often recognized in business combinations or asset revaluations.

Franchise Contract

A legal agreement granting an individual or group the rights to market a company’s products or services in a specific territory.