One of the Ways Entrepreneurs Achieve Success Is by Using

question 65

Multiple Choice

One of the ways entrepreneurs achieve success is by using resources more efficiently.This is an example of how entrepreneurs use a(n) ________ strategy.

• A) imitative
• B) low-cost leader
• C) differentiation
• D) combination

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Definitions:

Deductions

Amounts subtracted from gross income or revenue to calculate net income or taxable income, including expenses, allowances, and discounts.

Employee Receivables

Amounts owed to a company by its employees, often due to overpayment or advancements.

Short-term Note Payable

A short-term note payable refers to a debt obligation that is due for repayment within a year or less.

Contingent Liability

A potential obligation that may arise depending on the outcome of a future event, not recognized on the balance sheet unless occurrence is probable and the amount can be reasonably estimated.