Which Statement Is True

question 64

Multiple Choice

Which statement is true?

• A)Entrepreneurial ability is considered a passive resource.
• B)All entrepreneurs are inventors.
• C)The entrepreneur has been the central figure in the long economic success in the U.S.
• D)The basic payment made to the owners of capital is rent.

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Definitions:

Financial Position

refers to the status of the assets, liabilities, and equity of an entity at a particular point in time, as represented primarily through the balance sheet.

Date

In financial documents, it signifies the point in time when a transaction occurred or when a document was created.

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, representing what the owners or shareholders own outright.

Assets

Economic resources owned by a business or individual that are expected to bring future benefits.